PARACHUTE (BATTLEMENT MESA) COLORADO ACTUAL SITE EXCLUSIVELY MARKETED by Employing Broker: Tony Pierangeli - SRS Real Estate Partners, LLC CO License No
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SINGLE TENANT ABSOLUTE NNN Investment Opportunity 2019 CONSTRUCTION - OPENED JULY 2019 Upgraded Architecture/Building Features 119 STONE QUARRY ROAD PARACHUTE (BATTLEMENT MESA) COLORADO ACTUAL SITE EXCLUSIVELY MARKETED BY Employing Broker: Tony Pierangeli - SRS Real Estate Partners, LLC CO License No. ER40024553 JOE SCHUCHERT JIM SCHUCHERT Vice President Vice President SRS National Net Lease Group SRS National Net Lease Group 610 Newport Center Drive, Suite 1500 610 Newport Center Drive, Suite 1500 Newport Beach, CA 92660 Newport Beach, CA 92660 M: 310.971.3116 M: 310.971.3892 [email protected] | CA License No. 01973172 [email protected] | CA License No. 01969414 REPRESENTATIVE PHOTO NATIONAL NET LEASE GROUP 2 CONTENTS 5 9 INVESTMENT SUMMARY PROPERTY OVERVIEW Offering Summary | Investment Highlights Aerials | Site Plan | Location Map 18 20 AREA OVERVIEW FINANCIALS Demographics Rent Roll | Brand Profile ACTUAL SITE NATIONAL NET LEASE GROUP 3 PROPERTY PHOTO ACTUAL SITE NATIONAL NET LEASE GROUP 4 INVESTMENT SUMMARY SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land and building ownership) in a Dollar General property located in Parachute (Battlement Mesa), Colorado. The store opened for business in July 2019 and has 15 years remaining in the initial lease term with three (3) – five (5) year option periods at 10% rental increases. The lease is absolute NNN in nature with ZERO management responsibilities as Dollar General is responsible for ALL operating expenses, insurance, and property taxes. The lease is guaranteed by Dollar General Corp (NYSE: DG) with an investment grade credit rating of BBB from Standard and Poor’s. The subject property is strategically located along Stone Quarry Road across from the Grand Valley Fire Station & Kum & Go Convenience Store. Parachute is located approximately 42 Miles West of Glenwood Springs, CO; 44 miles NE of Grand Junction; 83 Miles NW of Aspen, CO; 100 Milles West of Vail, CO; 199 Miles SW of Denver, CO & 326 Miles SE of Salt Lake City, UT. The 5-mile trade area is supported by a growing population of 6,178 residents with an average household income of $74,632. REPRESENTATIVE PHOTO NATIONAL NET LEASE GROUP 5 OFFERING SUMMARY Offering PRICING $2,179,383 NET OPERATING INCOME $130,763 CAP RATE 6.00% GUARANTY Corporate TENANT Dollar General LEASE TYPE Absolute NNN LANDLORD RESPONSIBILITIES None Property Specifications RENTABLE AREA 9,100 SF LAND AREA 1.61 Acres PROPERTY ADDRESS 119 Stone Quary Road Parachute, CO 81635 YEAR BUILT 2019 PARCEL NUMBER 2407181-21-002 OWNERSHIP Fee Simple (Land & Building Ownership) Parcel Map ACTUAL SITE NATIONAL NET LEASE GROUP 6 INVESTMENT HIGHLIGHTS DOLLAR GENERAL CORPORATE GUARANTEED LEASE TRADE AREA DEMOGRAPHICS • 15 Years of Guaranteed Lease Term • 1-Mile: • 2019 Construction Build-to-Suit Dollar General • 2,713 Residents • Three (3) – Five (5) Year Option Periods with 10% Rental Increases • $87,311 Average Household Income • 1.40% Annual Population Growth Projected over the Next 5 Years A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE | ZERO • 3-Mile: MANAGEMENT RESPONSIBILITIES • 5,974 Residents • Absolute NNN with ZERO Management Responsibilities • $74,467 Average Household Income • Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes • 1.10% Annual Population Growth Projected over the Next 5 Years • Ideal, Management-Free Investment for an Out-of-State, Passive Investor • 5-Mile: • 6,178 Residents UPGRADED CONSTRUCTION BUILDING • $74,632 Average Household Income • Split Face Block on Front of Building • 1.11% Annual Population Growth Projected over the Next 5 Years • Hardie Board on All 4 Sides • EIFS Trim on Front of Building • Concrete Parking Lot TENANT • Snow Guards on Roof • Dollar General (NYSE: DG) Features Investment Grade Credit “BBB” by S&P • 15,597 Stores Located in 44 States as of May 3, 2019 PROXIMITY TO CITIES • Ranked #119 on the Fortune 500 List – Up 4 Points From 123 Last Year (Dollar • Glenwood Springs, CO – 42 Miles General Has Moved up the Fortune 500 Ranking for the 11th Consecutive Year) • Grand Junction, CO – 44 Miles • Dollar General Plans to Undertake Some 2,075 Real Estate Projects in 2019, • Aspen, CO – 83 Miles Including 975 New Store Openings (Up from 900 in 2018), 1,000 Mature • Vail, CO – 100 Miles Store Remodels, and 100 Store Relocations • Denver, CO – 199 Miles • Long Term History of Same-Store Sales Growth – 2018 Marked the • Salt Lake City, UT – 326 Miles Company’s 27th Consecutive Year DOLLAR GENERAL NATIONAL NET LEASE GROUP 7 INVESTMENT HIGHLIGHTS BATTLEMENT MESA BATTLEMENT MESA PUD • Located on the South Side of the Colorado River – Across from Parachute • 3,200 Acre Community Divided into Villages • Community is Nestled on a Sheltered Mesa with Views of the Roan Plateau to • Community Includes: the North, The Battlements to the South and the Colorado River to the East & • 6 Miles of Hiking & Biking Trails West • Battlement Mesa Golf Club • 53,000 SF Recreation Center PARACHUTE, CO – A SAFE PLACE TO LAND • Neighborhoods: • Located on the I-70 Corridor • Battlement Creek | 79 Single Family Homes • Located on the Western Slope of Colorado • Canyon View | 67 Single Family Homes – 4 Lots Available • Eagles Point | 29 Single Family Homes – 25 Lots Available GARFIELD COUNTY, COLORADO • Fairway Villas | 8 Single Family Homes – 35 Lots Available • Part of the Glenwood Springs, CO Micropolitan Statistical Area which is Also • Mesa Ridge | 85 Townhomes Included in the Edwards-Glenwood Springs, CO Combined Statistical Area • Monument Creek | 299 Single Family Homes • On July 16, 2019 It was Announced that the Bureau of Land Management • Saddleback Village | 318 Manufactured Homes (BLM) is Relocating its Headquarters from Washington DC to Grand Junction, • Stone Ridge Village | 60 Single Family Homes – 5 Lots Available Colorado • Tamarisk Meadows Village | 108 Single Family Homes • County Seat is Glenwood Springs • Tamarisk Village | 181 Single Family Homes • The Reserve | 31 Single Family Homes - 22 Lots Available • Valley View Village | 109 Units – 43 Homes, 50 Four-Plex Townhomes & 18 Six-Plex Condominiums • Willow Creek Village | 76 Single Family Homes – 5 Lots Available • Willow Park | 216 Apartment Units • Willow Ridge | 216 Apartment Units • Saddleback RV Park | 170 Spaces • Saddleback Creek | 282 Manufactured Homes DOLLAR GENERAL NATIONAL NET LEASE GROUP 8 PROPERTY OVERVIEW Location Access Traffic Counts Improvements Located in Stone Quarry Road U.S. Highway 6 / Interstate 70 There is approximately 9,100 SF Garfield County 1 Access Point 20,000 Cars Per Day of existing building area Parking Parcel Year Built Zoning There are approximately 37 Parcel Number: 2407181-21-001 2019 PUD: Planned Unit Development parking spaces on the parcel. Acres: 1.61 The parking ratio is Square Feet: 70,132 SF approximately 4.07 stalls per 1,000 SF of leasable area. DOLLAR GENERAL NATIONAL NET LEASE GROUP 9 20,000 CARS PER DAY GRAND VALLEY U.S. HIGHWAY 6 / INTERSTATE 70 HIGH SCHOOL S. BATTLEMEMT PKWY. STONE QUARRY RD. DOLLAR GENRERAL NATIONAL NET LEASE GROUP 10 BEA UNDERWOOD ELEMENTARY SCHOOL GARFIELD COUNTY SCHOOL DISTRICT UNDERWOOD LN. STONE QUARRY RD. DOLLAR GENRERAL NATIONAL NET LEASE GROUP 11 20,000 CARS PER DAY U.S. HIGHWAY 6 / INTERSTATE 70 GRAND VALLEY HIGH SCHOOL S. BATTLEMEMT PKWY. STONE QUARRY RD. DOLLAR GENRERAL NATIONAL NET LEASE GROUP 12 20,000 CARS PER DAY U.S. HIGHWAY 6 / INTERSTATE 70 S. BATTLEMEMT PKWY. STONE QUARRY RD. DOLLAR GENRERAL NATIONAL NET LEASE GROUP 13 BATTLEMENT MESA PUD HOUSING MAP 1 NAME UNITS 31 Single Family Homes 1 The Reserve (22 Lots Available) 2 2 Battlement Creek Village 79 Single Family Homes COUNTY ROAD 301 3 Battlement Mesa Golf Club — 4 Willow Creek Village 76 Single Family Homes 3 (5 Lots Available) 8 Single Family Homes 5 Fairway Villas (35 Lots Available) 6 Willow Ridge Apartments 211 Apartment Units 7 Willow Park Apartments 216 Apartment Units 4 5 9 29 Single Family Homes 8 Eagles Point (25 Lots Available) 6 8 9 Grand Valley Middle School 252 Students 11 7 10 10 Mesa Ridge 85 Townhomes INTERSTATE 70 / STATE HIGHWAY 6 20,000 11 Grand Valley High School 318 Students CARS PER DAY 12 13 COUNTY ROAD 302109 Units 12 Valley View Village • 43 Single Family Homes • 50 Four-Plex Townhomes 14 • 18 Six-Plex Condominiums 13 Stone Ridge Village 60 Single Family Homes 15 (5 Lots Available) 16 67 Single Family Homes 14 Canyon View Village (4 Lots Available) 17 15 Monument Creek Village 299 Single Family Homes 21 16 Saddleback RV Park 170 Spaces 20 19 17 Bea Underwood Middle School 329 Students 18 18 Saddleback Creek 282 Manufatured Homes 19 Tamarisk Meadows 108 Single Family Homes 20 Tamarisk Village 181 Single Family Homes 21 Saddleback Village 318 Manufatured Homes DOLLAR GENERAL NATIONAL NET LEASE GROUP 14 PYLON SIGN STONE QUARRY RD. QUARRY STONE ANGELICA CIR. JESSICA LN. DOLLAR GENERAL NATIONAL NET LEASE GROUP 15 U.S. HIGHWAY 6 / INTERSTATE 70 20,000 GRAND VALLEY CARS PER DAY MIDDLE SCHOOL GRAND VALLEY HIGH SCHOOL STONE QUARRYST. JOHN RD. ELEMENTARY SCHOOL BEA UNDERWOOD ELEMENTARY SCHOOL DOLLAR GENERAL NATIONAL NET LEASE GROUP 16 LOCATION MAP DENVER 199 miles VAIL 100 Miles GLENWOOD SPRINGS 42 Miles PARACHUTE ASPEN 83 Miles GRAND JUNCTION 2018 ESTIMATED POPULATION 44 Miles 1 Mile 2,713 3 Mile 5,974 5 Mile 6,178 7 Mile 6,495 2018 AVERAGE HOUSEHOLD INCOME 1 Mile $87,311 3 Mile $74,467 5 Mile $74,632 7 Mile $74,845 2018 ESTIMATED TOTAL EMPLOYEES 1 Mile 447 3 Mile 1,578 5 Mile 1,729 7 Mile 1,821 DOLLAR GENERAL NATIONAL NET LEASE GROUP 17 AREA OVERVIEW Parachute, Colorado The Town of Parachute is a Statutory Town in Garfield County, Colorado, United States. The Town of Parachute had a population of 1,137 as of July 1, 2018. The town is the birthplace of Willard Libby, recipient of the 1960 Nobel Prize in Chemistry.