11
Family Dollar for Sale 2665 Hull St. | Richmond, VA
Family Dollar for Sale
2665 Hull St. | Richmond, VA
FOR FURTHER INFORMATION
Joe Boydoffice 843.973.8283mobile 843.906.7751web [email protected]
125-GWappooCreekDriveCharleston,SC29412
phone (843)722.9925fax (843)722.9947web twinriverscap.com
LocatorMap .................................................................. 3
HighAerial .....................................................................4
MidAerial ......................................................................5
SiteAerial ...................................................................... 6
Site Plan ........................................................................7
PropertyInformation ....................................................8
Tenant&LeaseInformation ........................................9
Financials .................................................................... 10
AboutUs ...................................................................... 11
Table of Contents
2665 Hull St.Richmond, VA
Locator Map
RICHMOND,VA
High Aerial
SITEHullS
t.16,000VPD
PatrickHenrySchoolofArts
AgapeChristianAcademy
BlackwellElementary
MarketPlace
GenesisPrep
BoysandGirlsClubofMetroRichmond
FamilyValueFoodMarket
Swansboro Elementary
EphesusJuniorAcademy
MidlothianTurn
pike10,000VP
DJefferson D
avis Hw
y.
Mid Aerial
PatrickHenrySchoolofArts
EphesusJuniorAcademy
FamilyValueFoodMarket
BoysandGirlsClubofMetroRichmond
MarketPlace
Swansboro Elementary
AgapeChristianAcademy
SITE
MidlothianTurn
pike10,000VP
D
HullS
t.16,000VPD In&Out
Food Store
S & K MiniMarket
BryceD.JewettMachineManufacturingCo.
Site Aerial
SITEMidloth
ianTurnpike10
,000VPD
HullS
t.16,000VPD
FamilyValueFoodMarket
BryceD.JewettMachineManufacturingCo.
MarketPlace
HullS
t.16,000VPD
AutoSales
ToolSharpening
BodyShop
ThriftStore
Church
BrooksSignCo.
AutoCenter
TruckingAyer’sFloorCo.
AutoParts
Lloyd’sRestoration
Single Family
Apartments
Single Family
Site Plan
PropertyandLocationHighlightsRICHMOND,VARichmond is the capital of the Commonwealth of Virginia. It is located at the fall line of the James River, 44 miles west of Williamsburg, 66 miles east of Charlottesville, and 98 miles south of Washington, D.C.
Dominion Resources and MeadWestvaco are headquartered in the city, and Richmond is home to several Fortune 500 companies including: electric utility Dominion Resources; CarMax; Owens & Minor; Genworth Financial; WestRock; McKesson Medical-Surgical, Markel Corporation, and Altria Group. Other Fortune 500 companies, while not headquartered in the area, do have a major presence. These include SunTrust Bank, Capital One Financial Corporation, and the medical and pharmaceutical giant McKesson. Capital One and Philip Morris USA are two of the largest private Richmond-area employers. DuPont maintains a production facility in South Richmond known as the Spruance Plant. UPS Freight has its corporate headquarters in Richmond.
Other companies based in Richmond include chemical company NewMarket, Brink’s, Estes Express Lines, Universal Corporation, Cavalier Telephone, Cherry Bekaert & Holland, and Media General. Richmond is also home to four of the largest law firms in the United States: Hunton & Williams, McGuireWoods, Williams Mullen, and LeClairRyan. The city is home to both the United States Court of Appeals for the Fourth Circuit, one of 13 United States courts of appeals, and the Federal Reserve Bank of Richmond, one of 12 Federal Reserve Banks.
Richmond is home to the rapidly developing Virginia BioTechnology Research Park, an incubator facility for biotechnology and pharmaceutical companies. Located adjacent to the Medical College of Virginia (MCV) Campus of Virginia Commonwealth University, the park houses a diverse tenant mix of companies, research institutes, government laboratories and non-profit organizations. The United Network for Organ Sharing, which maintains the nation’s organ transplant waiting list, occupies one building in the park.
The Richmond area has many major institutions of higher education, including Virginia Commonwealth University, University of Richmond, Virginia Union University, and Virginia College. Virginia State University is located about 20 miles south of Richmond, and Randolph-Macon College is located about 15 miles north of Richmond.
> 15 YEAR NNN BTS
> APPROX. 0.87 ACRES
> 8,320 SF
> ZONED B-3 IN THE CITY OF RICHMOND
> RARE DOMINANT INFILL LOCATION WITH
ACCESS TO 2 MAJOR THOROUGHFARES
> CAP RATE: 6.0%
> ZERO LANDLORD OBLIGATIONS
> 16,000 VPD
> STORE PROJECTED TO BE A TOP
PERFORMER
> DEMOGRAPHICS 1 Mile 3 Mile 5 Mile
Population 12,602 104,819 245,014
Average HHI 42,464 52,115 57,479
Property Information
LEASEINFORMATION> Initial lease term of 15 years
> Six 5-year options increasing at 10% each option period
> 10% bump in year 11
Tenant & Lease Information
TENANTPROFILE
Tenant: Family Dollar Stores of Virginia, Inc.
Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000 stores across 48 states and five Canadian prov-inces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, Deals and Family Dollar.
Dollar Tree is the nation’s leading operator of fixed price-point stores, selling everything for $1 or less, and Family Dollar is a leading national operator of multi price-point stores providing value-conscious consumers with a selection of com-petitively priced merchandise in convenient neighborhood stores. The Company intends to retain and to grow both banners going forward and will optimize the combined real estate portfolio.
> Dollar Tree reported $5.64 billion in net sales in its most recent quarter> The combined Dollar Tree and Family Dollar company operates more than 15,000 stores nationwide, making it the largest dollar-store chain in the U.S. by store count> The combined company has sales of over $19 billion a year
> Family Dollar continues as a wholly-owned subsidiary of Dollar Tree
NYSE: DLTR
Financials
Rent Roll Tenant: Family Dollar Stores of Virginia, Inc. Guarantor: Family Dollar Stores, Inc. NNN Lease 2665 Hull St. Richmond, VA
Price SummaryPrice $2,114,400Cap Rate 6.0% on first 10 years 6.2% on initial termNOI $126,862.77
TENANT BUILDINGSQ FT
LEASE START/EXPIRATION
RENT PERSQ FT
MONTHLYRENT
ANNUALRENT OPTIONS
Family Dollar 8,320SF
March, 2017 /3/31/2032
Years 1 – 10:$15.24
Years 11 – 15:$16.77
Years 1 – 10: $10,571.83
Years 11 – 15: $11,629.08
Years 1 – 10: $126,862.77
Years 11 – 15: $139,549.05
Six 5-year options
increasing at 10%each
optionperiod
TRC provides national retailers with a comprehensive solution for growing their business by developing new locations.
TWINRIVERSCAPITAL,LLC
Twin Rivers Capital, LLC is a privately held real estate investment, development and brokerage company, founded in 2002 and headquartered in Charleston, SC. Focusing on the growth regions of the Southeastern US, TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 1.2 million SF of real estate with values in excess of $180 million. TRC also handles third party brokerage, including tenant and landlord representation and investment brokerage services in FL, GA, SC, NC, VA, TN and AL.
BuildtoSuit•JVPrograms•PreferredDeveloperforNationalRetailersBrokerage•FeeDevelopmentPrograms
FAMILY DOLLARAUTOZONE
MCDONALD’SVERIZON
WALMARTSHERWIN WILLIAMS
DICK’SAT&T
HOBBY LOBBYSTARBUCKS
DOLLAR TREEEDWARD JONES
YOURTWINRIVERSCAPITALCONTACT
Joe BoydJoe is responsible for all property and asset management and is also involved in property sales.
With over 25 years of experience in proper-ty management, Joe has served as Property Manager for numerous lifestyle centers and super-regional malls, including properties held by Madison Marquette Realty Services, CBL Properties and The Jacobs Group.
Joe received his Bachelor’s Degree from Grove City College and his MBA from Indiana Uni-versity of Pennsylvania. He received his CSM in 1995, his CMD in 1997 and his SC Realtor’s License in 2008.
OFFICE 843.973.8283MOBILE 843.906.7751EMAIL [email protected] twinriverscap.com
About Us
ClientRoster
