Offering Memorandum INVESTMENT OVERVIEW FLINTON , P A

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Offering Memorandum INVESTMENT OVERVIEW FLINTON , P A New Construction 2535 Glendale Valley Blvd Absolute NNN Flinton, PA 16640 15-Year Lease Offering Memorandum INVESTMENT OVERVIEW FLINTON , P A PennTexVentures, LLC is pleased to exclusively present to market the newly constructed, Dollar General store #18986, located in Flinton, PA; Central Pennsylvania. The market is 15 miles North of Altoona, PA and 35 miles Southwest of State College, PA. The Tenant has a 15-year initial term absolute NNN Lease. Rent State College, PA commenced in August 2018. Dollar Flinton General (DG) then has 3 extension options of 5 years each, with 10% rent Altoona, PA bumps in each option. The lease is backed by a corporate guaranty from Dollar General Corporation, who is investment grade rated BBB by Standard and Poor’s and did $23.5 Billion in annual sales in 2017. DG is #123 on the 2017 Fortune 500 list. ▪ Dollar General (#18986) – Flinton, PA (Central PA State) 15 miles N of Altoona, PA The immediate market has a | 35 miles SW of State College, PA population of 5,667 people in 2,331 ▪ 15-Year Guaranteed NNN Lease. Rent commenced in August 2018 households with a median household income of $41,679 within a 6-mile ▪ 3-Five Year Option Periods with 10% rent bumps in each Option Period radius. These demographic counts do ▪ Brand new construction not include the hundreds of summer ▪ Corporate guaranteed by Dollar General Corporation homes and people generated by the ▪ Investment Grade Rated BBB by Standard and Poor’s Glendale Lake complex. ▪ 8,000 people within 8 miles | 2,600 VPD 2 Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] MARKET SUMMARY/ DEMOGRAPHICS FLINTON , P A 2018 3-Mile 6-Mile 8-Mile Population 2,379 5,667 7,997 Households 996 2,331 3,284 2018 Median HH Income $39,292 $41,679 $43,765 Total 2018 1,898 4,223 5,833 Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] 3 PROPERTY SUMMARY FLINTON , P A ▪ Brand new construction ▪ Fills a need in an underserved market ▪ Daytime population of 5,800 ▪ Ideal demographics for Dollar General ▪ Sees 2,600 VPD Representative Photo ADDRESS 2535 Glendale Valley Blvd, Flinton, PA 16640 STORE NUMBER #18986 APPROXIMATE ACREAGE 1.5 ac. BUILDING SIZE 9,100 sf Y E A R B U I LT 2018 EXTERIOR Steel structure with masonry front VEHICLES PER DAY 2,600 VPD SIGNAGE 1 pylon sign & 1 building sign PARKING 31 spaces, including 2 ADA compliant stalls INGRESS/EGRESS Full turn ingress and egress to Robinson St. via shared driveway. 4 Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] FINANCIAL OVERVIEW FLINTON , P A Representative Photo PRICE $1,375,644 C A P R AT E 6.75% L E A S E T Y P E Triple-Net (NNN) G RO S S N O I $92,856 PRICE PER SF $151.17 LANDLORD RESPONSIBILITIES Initial payment of real estate taxes; reimbursable by Tenant. TENANT RESPONSIBILITIES Cost of utilities, real estate taxes, and insurance. Maintenance and repair of roof, interior/exterior, landscaping and parking lot. Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] 5 LEASE SUMMARY FLINTON,PA RENT COMMENCEMENT August 12, 2018 DAT E OPTIONS TO RENEW 3 Five-Year Options with 10% Rent Increases in Each Option LEASE GUARANTOR Dollar General Corporation ANNUAL RENT M O N T H LY P E R S F Years 1-15 $92,856 $7,738 $10.20 Option Years 16-20 $102,141.60 $8,511.80 $11.22 Option Years 21-25 $112,355.76 $9,362.98 $12.34 Option Years 26-30 $123,597.36 $10,299.28 $13.58 Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] 6 TENANT OVERVIEW FLINTON , P A Dollar General (NYSE: DG) headquartered in Goodlettsville, TN is the largest small-box discount retailer store in the nation. Dollar General aims to make shopping for everyday needs simpler and hassle-free by offering a focused assortment of the most popular national and private brands in general merchandise, cosmetics, toiletries, beverages and groceries at competitive prices in small and convenient locations. A Fortune 500 company (#123), Dollar General is investment grade rated BBB by Standard and Poor’s. With $23.5 billion in annual sales in 2017, DG saw a $1.54 billion profit. 2017’s same-store sales marked Dollar General’s 28th consecutive year of same-store sales growth. Rated BBB by Standard & 15,000+ Stores Poor Number 123 in Fortune 130,000+ Team Members 500 (June 2017) 27.1% increase in profit & Over 75 Years in 6.8% increase in sales operation from 2016 to 2017 $23.5 Billion in Annual $1.54 Billion in Profit in Sales in 2017 2017 Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] 7 MARKET OVERVIEW FLINTON , P A Situated in South-Central Pennsylvania, Flinton is located in Reade Township, Northern Cambria County and within the Altoona MSA. The borough of Northern Cambria was incorporated on January 1, 2000. It was formed from the merger of two smaller municipalities, Barnesboro and Spangler. The area was first settled by Europeans in the early-to-middle 19th century. The presence of the West Branch of the Susquehanna River allowed loggers to move their harvest downstream. The area began to grow in the 1890s, when mining of the extensive bituminous coal fields in the area became the dominant industry. Railroads were built to export the coal, and the town flourished with the influx of money. Today, recreational tourism within the surrounding Allegheny Mountains supports the economic base in this area. The mountain range provides tremendous opportunities for hiking, mountain biking, wildlife observation and camping. The Coal Country Campground offers 100 campsites and Glendale Yearound contains over 200 homes and vacation homes. Visitors travel to the Prince Gallitzin State Park for 1,635-acre Glendale Lake to swim, boat and fish. The state park also maintains 437 campsites and 10 cabins. Located within a 25 minute drive of Flinton is the principal city of Altoona MSA, Altoona, PA. Like many “Rust Belt” cities, the economic downturn of the railroad lead the city into revitalization efforts which have been proven to be successful. The city has attracted new jobs in the manufacturing, healthcare, and recreational fields. These efforts have diversified the city’s economy, and revitalized major sections of the city, creating new housing, educational, and professional opportunities. The city is home to the Altoona Curve baseball team of the Double A Eastern League, which is the affiliate of the Major League Baseball team Pittsburgh Pirates. Prominent landmarks include the Horseshoe Curve, the Railroaders Memorial Museum, the Juniata Shops of the Altoona Works, the Mishler theatre, the Cathedral of the Blessed Sacrament, and the Jaffa Shrine Center. Sheetz, a well known regional gas, convenience and fast casual concept, was founded and is currently headquartered in Altoona, PA. Their headquarters employs over 100 people. Sheetz maintains over 500 stores Contact: Ashley Weinman | (724) 396-5757 (x104) | [email protected] 8 MARKET OVERVIEW FLINTON , P A Flinton is 35 miles southwest of State College and 80 miles northeast of Pittsburgh. Major economic drivers are agriculture, lumber and coal and gas industries. The local public school district, Glendale Business Name Number of School District, educates 866 students and employs Employees 131 faculty and staff annually. Glendale School 866 students, Flinton has many campgrounds attracting people to the area including Glendale Yearround with over 200 District 131 faculty & staff homes and vacation homes, Prince Gallitzin State PNG Field 290,000 spectators Park with 437 campsites and 10 cabins, along with Coal Country Campgrounds with 100 campsites. each year Flinton acts as a bedroom community for Altoona. UPMC Altoona 4,300 employees Altoona thrives on an economy based on recreation, Hospital medicine, industry and education. Named after the railroad, the minor league baseball team ‘Altoona Veterans Affairs 710 employees Curve’ hosts games for over 290,000 spectators each Medical Center year at PNG Field. UPMC Altoona hospital engages 4,300 employees, and the Station Medical Center, a Cambria Heights 1,473 students, UPMC Outpatient Facility, offers services in 8 medical School District 179 faculty & staff departments. Additionally, the regional Veterans Affairs Medical Center has 710 employees. Penn State Sheetz 360 Altoona enrolls over 3,400 students and employs 604 faculty and staff members. Contact: Ashley Weinman | (724) 396-5757 (x104) |[email protected] 9 2535 Glendale Valley Blvd Dollar General Flinton, PA 16640 Contact: Ashley E. Weinman License: RS332361 Broker of Record: 724-420-5367 ext. 104 Timothy H. Weinman 724-396-5757 PA: RB-046768L [email protected].
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