Family Dollar Property For Sale Date January 4, 2017
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Family Dollar for property for sale located in Lawton, Oklahoma. The property is strategically located at a heavily trafficked signalized intersection. Family Dollar is committed to this location as evidenced by their recent 5 year lease extension. The Family Dollar lease expires December 31, 2021 and features 10% rental escalations in each of the two remaining 5-year renewal option periods.
The 8,000 square foot property is strategically located at the signalized intersection of Sheridan Road and Smith Avenue, less than one-half mile south of US-62 (roughly 26,900 VPD). Sheridan Road is the trade area’s primary north-south thoroughfare with traffic counts in excess of 27,873 vehicles per day. Family Dollar boasts strong reported store sales at this location which they have operated at since 2001. Store sales at this location have increased by roughly 30% since 2011.
Surrounding retailers in the immediate area, to name a few, include Walmart Supercenter, Staples, CVS Pharmacy, Advance Auto Parts, AutoZone and Chick-fil-A. The Fort Sill Army post is located just north of the Family Dollar property. The economy of Lawton is heavily supported by Fort Sill, where it serves as the region’s largest employer. The base consists of 70,482 people, and is one of four locations in the country for Army Basic Combat Training.
Family Dollar was recently acquired by Dollar Tree and is a wholly owned subsidiary of Dollar Tree. Dollar Tree is publicly traded on the NASDAQ (DLTR) with a market capitalization in excess of $18.5 billion.
INVESTMENT HIGHLIGHTS
- Strong performing location – store sales have increased over 30% since 2011.
- Positioned at hard corner of signalized intersection
- Located along a primary north-south thoroughfare (27,873 VPD)
- Over 50,000 people live within 3 miles of the property
- Located near Fort Still Military Base
- Tenant has exercised its first two renewal options, showing its commitment to this location
- Tenant is a subsidiary of a publicly traded company (NASDAQ: DLTR) with market capitalization in excess of $18.5 billion
- 10% rental escalation in each renewal option period
- Surrounding retailers in the immediate area, to name a few, include Walmart Supercenter, Staples, CVS Pharmacy, Advance Auto Parts, AutoZone and Chick-fil-A.