Dollar General ™ 2319 Delaware Dr, Mt

REPRESENTATIVE PHOTO DOLLAR GENERAL ™ 2319 DELAWARE DR, MT. BETHEL, PA 18343 RET AIL ADVISORS OFFERING MEMORANDUM CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offering Memorandum contains select information pertaining to the business and affairs of Dollar General located at 2319 Delaware Dr, Mt. Bethel, PA 18343 (“Property”). It has been prepared by Matthews Retail Advisors . This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Retail Advisors . The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Retail Advisors expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

Matthews Retail Advisors Table of Contents

PRICING & FINANCIAL ANALYSIS Investment Overview...... 2 Investments Highlights...... 2 Executive Summary...... 3 Company Overview ...... 4

PROPERTY DESCRIPTION Physical Description...... 7 Birds Eye...... 8 Regional Map...... 9 Aerial Map...... 10

DEMOGRAPHICS City Overview | Mt. Bethel, PA ...... 12 Demographics Report...... 13

EXCLUSIVELY LISTED BY:

Josh Bishop Calvin Short Senior Associate Partner DIRECT +1.310.919.5823 DIRECT +1.310.919.5770 MOBILE +1.315.730.6228 MOBILE +1.310.567.3525 [email protected] [email protected] License No. 01940394 License No. 01927216

David B. Zacharia Chad Kurz Broker of Record Managing Partner License No. RM422281 DIRECT +1.310.919.5850 MOBILE +1.562.480.2937 DZ Net Lease Realty, LLC [email protected] License No. RB067686 License No. 01911198

™ Matthews Retail Advisors REPRESENTATIVE PHOTO Pricing & Financial Analysis

REPRESENTATIVE PHOTO ™ PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Investment Highlights

• Ideal 1031 Exchange Property

• Brand New 2015 Construction

• 15 Year Absoulte NNN Lease

• No Management Responsibility REPRESENTATIVE PHOTO

• 10% Rent Increases in Options

• ±12,500 Residents Within 5-Mile Radius

• Corporate Guaranteed Lease

• The Only Investment Grade Credit Dollar Store

• Fortune 500 Company

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PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Executive Summary

DOLLAR GENERAL Annualized Operating Data 2319 DELAWARE DR Monthly Rent Annual Rent Rent/SF MT. BETHEL, PA 18343 Current - 7/31/2030 $9,776.67 $117,320.04 $13.00 List Price...... $1,791,145 Option 1 - 7/31/2035 $10,754.34 $129,052.04 $14.30 CAP Rate - Current ��6.55% Option 2 - 7/31/2040 $11,829.77 $141,957.25 $15.73 Gross Leasable Area �� 9,026 SF Option 3 - 7/31/2045 $13,012.75 $156,152.97 $17.30 Lot Size ...... 1.50 Acres (65,340 SF) Year Built �� 2015

Tenant Summary

Tenant Trade Name Dollar General Type of Ownership Fee Simple Lease Guarantor Corporate Lease Type NNN Roof and Structure Tenant Responsible Original Lease Term 15 Years Rent Commencement Date 7/12/2015 Lease Expiration Date 7/31/2030 Term Remaining on Lease 14.25 Years Increases 10% In Options Options (3) Three - 5 (Five) Year

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PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Company Overview

Property Name Dollar General Portfolio Dollar General Corporation, a discount retailer, engages in the provision of various merchandise products in the United States. The company offers Gross Leasable Area 9,026 SF various consumable products, including paper and cleaning products, Property Type Net Leased Discount Store packaged food, comprising cereals, canned soups and vegetables, Parent Company Trade Name Dollar General condiments, spices, sugar, and flour; perishables consisting of milk, eggs, Ownership Public bread, frozen meals, beer, and wine; snacks that include candies, cookies, Credit Rating BBB- crackers, salty snacks, and carbonated beverages; over-the-counter Rating Agency Standard & Poor’s medicines and personal care products; and pet supplies and pet food products. It also provides seasonal products, including decorations, toys, Revenue $16.2 Billion batteries, small electronics, greeting cards, stationery, prepaid phones and Net Income $952.66 Million accessories, gardening supplies, hardware, automotive, and home office Stock Symbol DG supplies; and home products comprising kitchen supplies, cookware, small Board NYSE appliances, light bulbs, storage containers, frames, candles, craft supplies No. of Locations 11,132 and kitchen, bed, and bath soft goods. In addition, the company offers No. of Employees ±90,500 casual everyday apparel for infants, toddlers, girls, boys, women, and men, Headquartered Goodlettsville, TN as well as socks, underwear, disposable diapers, shoes, and accessories. As of January 31, 2014, it operated 11,132 stores in 40 states. The company Web Site www.dollargeneral.com was formerly known as J.L. Turner & Son, Inc. and changed its name to Year Founded 1939 Dollar General Corporation in 1968. Dollar General Corporation was founded in 1939 and is based in Goodlettsville, Tennessee.

P. 4 Matthews Retail Advisors OFFERING MEMORANDUM | Dollar General Property Description

™ PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

P. 6 Matthews Retail Advisors OFFERING MEMORANDUM | Dollar General REPRESENTATIVE PHOTO PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Physical Description

THE OFFERING Property Name...... Dollar General Property Address...... 2319 Delaware Dr Mt. Bethel, PA 18343 SITE DESCRIPTION Number of Stories ��One Year Built...... 2015 Gross Leasable Area (GLA) �� 9,026 SF Lot Size...... 1.50 Acres (65,340 SF) Type of Ownership...... Fee Simple Landscaping...... Professional Topography...... Generally Level CONSTRUCTION Foundation...... Concrete Slab Exterior...... Block / Metal Parking Surface...... Asphalt

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Birds Eye

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Regional Map

Dollar General | OFFERING MEMORANDUM Matthews Retail Advisors P. 9 PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Aerial Map

P. 10 Matthews Retail Advisors OFFERING MEMORANDUM | Dollar General Demographics

™ PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

City Overview | Mt. Bethel, PA

Mount Bethel is an unincorporated community in Upper Mount Bethel Township in Northampton County, located along Pennsylvania Route 611 north of the intersection with Pennsylvania Route 512.

Northampton began as a farming community, with just a few settlements near crossroads or mills. Not until the late 1800’s, did retired farmers decide to build homes “in town.” Life was never dull for farmers or their counterparts on the farm. Activities included big political parades and Memorial Day parades to the local cemetery, church and school picnics, serenades of banging pots and pans at the homes of newlyweds, carni- vals and dinners at the firehouse, chautauquas when people gathered to enjoy plays, reading poetry, and listen to and partake in discussions, and of course, the trips to and competition in the county fairs.

Today, many landmarks have changed or disappeared, and new activities have replaced the old. Even though the landscape looks very differ- ent from the birth of the Township, Northampton has remained a great place to live and call home. Many of Northampton’s farms have become housing developments and the township is currently the home of 40,000 inhabitants who enjoy its free library, senior center, parks, nature center, golf courses, athletic fields and shopping centers.

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Demographics Report

Population 3-Mile 5-Mile 10-Mile 2020 Projection 5,727 12,503 87,294 2015 Estimate 5,598 12,422 89,178 2010 Census 5,461 12,372 91,943 2000 Census 4,706 11,176 85,202 Growth 2000 - 2010 16.04% 10.70% 7.91% Growth 2010 - 2015 2.51% 0.40% -3.01% Growth 2015 - 2020 2.30% 0.65% -2.11%

Households 2020 Projection 303 2,213 4,698 2015 Estimate 306 2,164 4,674 2010 Census 309 2,111 4,664 2000 Census 289 1,828 4,242 Growth 2000 - 2010 15.52% 9.96% 8.21% Growth 2010 - 2015 2.51% 0.21% -2.77% Growth 2015 - 2020 2.24% 0.51% -2.12%

Income Income < $15,000 8.09% 7.93% 9.67% Income $15,000 - $24,999 7.97% 6.86% 9.66% Income $25,000 - $34,999 8.03% 9.00% 10.17% Income $35,000 - $49,999 16.16% 15.09% 13.64% Income $50,000 - $74,999 22.81% 22.43% 19.50% Income $75,000 - $99,999 11.90% 12.21% 13.60% Income $100,000 - $124,999 10.50% 10.39% 9.42% Income $125,000 - $149,999 4.39% 5.96% 6.01% Income $150,000 - $199,999 7.53% 6.58% 4.94% Income $200,000 - $249,999 1.41% 1.62% 1.41% Income $250,000 - $499,999 1.14% 1.67% 1.69% Income $500,000+ 0.08% 0.27% 0.30% 2015 Est. Average Household Income $74,589 $77,784 $73,165 2015 Est. Median Household Income $60,696 $62,398 $58,786

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Josh Bishop Calvin Short Chad Kurz David B. Zacharia Senior Associate Partner Managing Partner Broker of Record DIRECT +1.310.919.5823 DIRECT +1.310.919.5770 DIRECT +1.310.919.5850 License No. RM422281 MOBILE +1.315.730.6228 MOBILE +1.310.567.3525 MOBILE +1.562.480.2937 [email protected] [email protected] [email protected] DZ Net Lease Realty, LLC License No. 01940394 License No. 01927216 License No. 01911198 License No. RB067686

Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com