SUBJECT PROPERTY

EXCLUSIVE OFFERING | $1,636,000 – 6.30% CAP | s&p Rating bbb

11971 Dyer St, El Paso, TX

214.915.8892 Property. Dollar General, 9,026+ SF building on 1.84+ acre site. Metal Construction, Concrete Block Façade, Concrete Parking Lot. Tenant. S&P Rating BBB, operates 14,534+ stores in 44 states. Ranked 159th within the Fortune 500 Companies. Fiscal 2017 revenues exceeded $23.5 billion. JOE CAPUTO [email protected] Lease structure. Corporate, 15-year, absolute NNN lease with 13+ years remaining and 10% rent increases at the beginning of each option. ALEX TOWER Location. Dollar General is situated along Dyer St. (5,000 VPD) in northeast El Paso, TX. Dyer St. is a local thoroughfare that serves the northeast El Paso area. [email protected] The subject property will benefit as it is directly across the street from two large corporation facilities, Dal-Tile tile contractor and Bruce Foods Corporation. Additionally, the site is the only and grocer within a 8-mile radius. Dollar General is located in the Mesquite Hills neighborhood, a newly developing community that was constructed to meet the high housing demand in the area. Several national credit tenants are in close a proximity to Dollar General including McDonald’s, Taco Bell, Church’s, Domino’s, Little Caesar’s, Subway, Circle K, Shell, and many more. Dollar General is located approximately 16-miles northeast of downtown El Paso and 27-miles of the Texas-Mexico Border. TABLE OF CONTENTS | DISCLAIMER Dollar General

11971 Dyer St, El Paso, TX

PAGE 2: TABLE OF CONTENTS | DISCLAIMER Disclaimer Trivanta (“Agent”) has been engaged as an agent for the sale of the property located at PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW 11971 Dyer St., El Paso, TX by the owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this PAGE 4: TENANT OVERVIEW CONT. Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the PAGE 5: IN THE NEWS interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. PAGE 6-7: AERIAL PHOTO The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, PAGE 8: SITE PLAN partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be PAGE 9-10: PROPERTY PHOTOS comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained PAGE 11-12: LOCATION OVERVIEW herein or any other written or oral communication or information transmitted or made available or any taken or decision made by the recipient with respect to the Property. PAGE 13-14: LOCATION MAPS Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and PAGE 15: LOCATION MAPS absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller’s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied SUBJECT PROPERTY or otherwise reproduced without the prior written authorization of Seller and Agent.

2 INVESTMENT OVERVIEW Dollar General

11971 Dyer St, El Paso, TX

PRICE | CAP RATE: $1,636,000 | 6.30% LEASE OVERVIEW Initial Lease Term: 15-Yrs, Plus (3), 5-Year Options to Renew NET OPERATING INCOME: $103,068 Rent Commencement: July 2016 BUILDING AREA: 9,026+ Square Feet Lease Expiration: July 2031 LAND AREA: 1.84+ Acres Lease Type: Absolute NNN YEAR BUILT : 2016 Rent Increases: 10% In Option Periods

OWNERSHIP: Fee Simple Interest Year 1-15 Annual Rent (Current): $103,068

OCCUPANCY: 100% Year 16-20 Annual Rent (Option 1): $113,375

CONSTRUCTION TYPE: Metal Construction, Year 21-25 Annual Rent (Option 2): $124,713

Concrete Block Façade, Year 26-30 Annual Rent (Option 3): $137,184 Concrete Parking Lot

TENANT OVERVIEW LESSEE: Dolgen Corp. of Texas, Inc. GUARANTOR: Dollar General Corporation

DOLLAR GENERAL | www.dollargeneral.com | S&P Rating BBB (upgraded from BBB- in October, 2015) Cal Turner founded J. L. Turner & Son, Inc. in 1939, and opened the first Dollar in Springfield, Kentucky in June 1955. Today, Dollar General Corporation operates as the country’s largest small-box discount retailer with stores in the southern, southwestern, midwestern, and eastern . The stores are typically located in local neighborhoods and small communities deemed “too small” for big-box retailers. Dollar General offers both name-brand and generic merchandise—including off-brand goods and closeouts of name-brand items. Although it has the word “dollar” in the name, Dollar General is not a dollar store. Many of its offerings are priced at more than one dollar. However, goods are usually sold at set price points of penny items and up to the range of 50 to 60 dollars, not counting phone cards and loadable store gift cards. The company provides paper and cleaning products (paper towels, bath tissues, paper dinnerware, trash and storage bags, laundry, and other home cleaning supplies), packaged food and perishables (cereals, canned soups and vegetables, sugar, flour, milk, eggs, and bread), beverages, snacks (such as candies, cookies, crackers, salty snacks, and carbonated beverages), over-the-counter medicines, personal care products (soap, body wash, shampoo, dental hygiene, and foot care products), pet supplies and pet food products, seasonal products (decorations, toys, batteries, small electronics, greeting cards, and stationery) prepaid cell phones and accessories, gardening supplies, hardware, automotive, home office supplies, home products (kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, and craft supplies, as well as kitchen, bed, and bath soft goods), and casual, everyday apparel (for infants, toddlers, girls, boys, women, and men, as well as socks, underwear, disposable diapers, shoes, and accessories). Since the turn of the century, Dollar General has added stores that carry a greater selection of grocery items, which operate under the name “Dollar General Market”. In 2007 Kohlberg Kravis Roberts & Co. (KKR) acquired Dollar General, privatized the company for restructuring, and took the company public again in 2009. As of March 3, 2017, Dollar General operated 14,534+ stores in 44 states. The company ranks 159th within the Fortune 500 Companies. Fiscal 2017 revenues exceeded $23.5 billion with net income of $1.54 billion.

3 Tenant OVERVIEW CONT. Dollar General

11971 Dyer St, El Paso, TX

20162017 Financial Highlights: • Total Sales Increase of 7.9%7.3% to $21.9$23.5 Billion • Same-Store Sales Increase of 0.9%2.7% • 2627th Consecutive Year of Same-Stores Sale Growth • Net Income Increased 7.3%23% to to 1.54 1.25 Billion Billion Investment Highlights: • Dollar General is the Country’s Largest Small-Box Discount Retailer • Corporate guaranty by investment grade tenant: Dollar General (S&P:BBB) • Absolute NNN Lease – No Landlord Responsibility

14,534+ Stores

4 IN the news Dollar General

11971 Dyer St, El Paso, TX

Click Here FOR Article :

How Dollar General Became Rural America’s Store of Choice By Sarah Nassauer EVENSVILLE, Tenn.— (The Wall Street Journal) —The local Dollar General store, built on a rural highway and surrounded by farmland, sells no fresh meat, greens or fruit. The selection echoes a suburban drugstore chain, from shower curtains to breakfast cereal, toilet paper, plastic toys and camouflage-pattern socks. Refrigerators and freezers on one wall hold milk, eggs and frozen pizza. Many items are sold in mini bottles or small bags, keeping costs lower than a trip to the Wal-Mart Supercenter down the road. The two registers are staffed by one cashier, except during rush hours after school and after work. Dollar General is expanding because rural America is struggling. With its convenient locations for frugal shoppers, it has become one of the most profitable retailers in the U.S. and a lifeline for lower-income customers bypassed by other major chains. Dollar General Corp.’s 14,000 stores yielded more than double the profit of Macy’s Inc. on less revenue during its most recent fiscal year. And its $22 billion market value eclipses the largest U.S. grocery chain, Kroger Co., which has five times the revenue. The retailer relies on rapid store openings to keep revenue climbing and investors happy; 2016 marked its 27th consecutive year of sales growth in stores open at least a year. While many large retailers are closing locations, Dollar General executives said they planned to build thousands more stores, mostly in small communities that have otherwise shown few signs of the U.S. economic recovery. Dollar-store chains flourished in the wake of the recession. Wal-Mart opened more than 100 mostly rural Wal-Mart Express stores, a chain the company has since closed, selling dozens of the stores to Dollar General last year. Dollar General executives said in 2012 the chain would shift more attention to cities, attempting to assuage investors who worried the company’s growth could stall. Instead, demand by rural shoppers kept Dollar General’s focus on sparsely populated communities. In 2013, Dollar General refined its formula for new locations, incorporating such data as proximity to a post office or church. The company identified 14,000 spots, with “the highest improvement in opportunities in small town and rural markets,” Mr. Dreiling told analysts in 2014. The company has since opened hundreds of diminutive stores, about the size of a basketball court, that can generate profits in communities with fewer than 1,000 homes, Mr. Vasos said. This year, the company bought 322 stores from a private-equity firm that had bought them from as it sought antitrust approval for the purchase. The acquisition included stores in Brooklyn, N.Y., Chicago and other cities, locations that will be a useful testing ground, he said Source: https://www.wsj.com/article_email/how-dollar-general-became-rural-americas-store-of-choice-1512401992-lMyQjAxMTE3MzAwNTAwNjUxWj/ 5 AERIAL PHOTO Dollar General

11971 Dyer St, El Paso, TX

Stan Roberts Sr. Ave.

Newman Power Station

El Paso Natural Gas Company

Painted Dunes Desert Golf Course

Dal-Tile

Bruce Foods Fred Hervey Water Corporation Reclamation

Sean Haggerty Dr. (6,000 VPD)

Green Bay Packaging

6 AERIAL PHOTO Dollar General

11971 Dyer St, El Paso, TX

Building Materials & Construction Solutions

Jobe Landscape and Mesquite Hills Aggregate Rock

Dal-Tile

7 SITE PLAN Dollar General

11971 Dyer St, El Paso, TX

8 SITE PLAN Dollar General

11971 Dyer St, El Paso, TX

9 SITE PLAN Dollar General

11971 Dyer St, El Paso, TX

8 LOCATION OVERVIEW Dollar General

11971 Dyer St, El Paso, TX

IMMEDIATE TRADE AREA Dollar General is situated along Dyer St. (5,000 VPD) in northeast El Paso, TX. Dyer St. is a local thoroughfare that serves the northeast El Paso area. The subject property will benefit as it is directly across the street from two large corporation facilities, Dal-Tile tile contractor and Bruce Foods Corporation. Additionally, the site is the only variety store and grocer within a 8-mile radius. Dollar General is located in the Mesquite Hills neighborhood, a newly developing community that was constructed to meet the high housing demand in the area. Several national credit tenants are in close a proximity to Dollar General including McDonald’s, Taco Bell, Church’s, Domino’s, Little Caesar’s, Subway, DOWNTOWN EL PASO, TX Circle K, Shell, and many more. Dollar General is located approximately 16- miles northeast of downtown El Paso and 27-miles of the Texas-Mexico There is plenty to see and do in the City of El Paso. Experience walking tours Border. of Downtown to get a taste of history that spans 400 years, , outdoor concerts at the Chamizal National Memorial, museums of every kind, the Zoo, EL PASO, TX and nature hikes through four Texas State Parks. El Paso has been ranked the El Paso is situated in the far western corner of the US state of Texas. El Paso safest large city in the U.S. for four consecutive years and ranked in the top stands on the Rio Grande river across the Mexico-United States Border from three since 1997. Ciudad Juarez, the largest city in the Mexican state of Chihuahua. The two El Paso has a diversified economy focused primarily within international trade, cities along with Las Cruces in the neighboring state of New Mexico, form a military, government civil service, oil and gas, health care, tourism and service combined international metropolitan area sometimes referred to as the Paso sectors. The El Paso metro area had a GDP of $28.64 billion in 2016. Over the del Norte region. The region of over 2.7 million people constitutes the largest past 15 years the city has become a significant location for American-based bilingual and binational work force in the Western Hemisphere. call centers. El Paso has added a significant manufacturing sector with items The city is the headquarters of one Fortune 500 and three publicly traded and goods produced that include petroleum, metals, medical devices, plastics, companies, as well as home to the Medical Center of the Americas, the only machinery, defense-related goods and automotive parts. The city is the second medical research and care provider complex in West Texas and Southern New busiest international crossing point in the U.S behind San Diego. Tourism is Mexico. The University of Texas at El Paso is the city’s primary university. The another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 city hosts the annual Sun Bowl college football post-season game, the second million visitors annually due to the city’s sunny weather, natural beauty, rich oldest bowl game in the country. cultural history, and many outdoor attractions. El Paso has a strong federal and military presence. William Beaumont Army El Paso is home to the University of Texas at El Paso, the largest public Medical Center, Biggs Army Airfield, and Fort Bliss call the city home. Fort Bliss university in the region. UTEP was recently ranked as the 10th best university in is one of the largest military complexes of the United States Army and the Washington Monthly’s 2015 National University Rankings, just behind Harvard. largest training area in the United States. Also headquartered in El Paso are Also, the university’s School of Engineering is the nation’s top producer of the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force Hispanic engineers with M.S. and Ph.D. degrees. El Paso is also home to North, U.S. Border Patrol El Paso Sector, and U.S. Border Patrol Special Texas Tech University Health Sciences Center at El Paso, Paul L. Foster Operations Group (SOG). School of Medicine, Texas Tech College of Architecture at El Paso, Brightwood College, Park University, Webster University and the University of Phoenix. Also due to its proximity, many El Paso students attend New Mexico State University where the school offers in-state tuition to El Paso County residents.

11 Location overview DOLLAR GENERAL

11971 Dyer St, El Paso, TX

EL PASO, TX

EL PASO – LAS CRUCES CSA The El Paso–Las Cruces Combined Statistical Area (CSA) consists of two counties in western Texas and one in southern New Mexico. As of the 2015 census, the CSA had a population of 1,053,267 making it the 54th largest combined statistical area in the United States. The statistical area consists of the metropolitan areas of El Paso, Texas and Las Cruces, New Mexico. This CSA has a GDP of about $35.55 billion and would rank 58th nationally among all CSA or metro areas. El Paso is a city in and the county seat of El Paso County, Texas, and lies in far West Texas. The city had a population of 683,080 as of 2016. The market has almost 3.1 million people within a 45-minute drive. There are 7.8 million pedestrian crossings and 12.4 million vehicular crossings annually between El Paso and Mexico. El Paso stands as one of the busiest ports of entry to the US along the border. Education is also a driving force in El Paso's economy. El Paso is home to the University of Texas at El Paso and the Texas Tech University Health Sciences Center at El Paso. The University of Texas at El Paso (UTEP) has an annual budget of nearly $250 million and employs nearly 3,600 people. A study by the university's Institute for Policy and Economic Development stated that the University's impact on local businesses has resulted in $349 million. El Paso's three large school districts are among the largest employers in the area, employing more than 19,000 people between them.. More than seventy Fortune 500 companies have offices in El Paso, including The Hoover Company, Eureka, Boeing, and Delphi. Once a major copper refining area, chief manufacturing industries in El Paso now include food production, clothing, construction materials, electronic and medical equipment, and plastics. El Paso Ranks: 3rd Best US City for quick service and restaurant growth -Pitney Bowes; 9th Best US City in Economic Performance -Milken Institute; 6th Best Place for Cost of Doing Business –Forbes; 1st Safest Large US City -2014 CQ Press. 12 LOCATION MAP Dollar General

11971 Dyer St, El Paso, TX

13 LOCATION MAP Dollar General

11971 Dyer St, El Paso, TX

14 DEMOGRAPHICS Dollar General

11971 Dyer St, El Paso, TX

11971 Dyer St 11971 Dyer St 1 mi radius 3 mi radius 5 mi radius 1 mi radius 3 mi radius 5 mi radius El Paso, TX 79934 El Paso, TX 79934

2018 Estimated Population 3,686 12,537 63,911 2018 Est. Labor Population Age 16 Years or Over 2,649 9,029 47,257 2023 Projected Population 3,779 12,818 65,632 2018 Est. Civilian Employed 61.6% 59.8% 53.5% 2010 Census Population 1,971 7,199 55,414 2018 Est. Civilian Unemployed 3.5% 2.4% 2.2% 2000 Census Population 400 5,025 43,619 2018 Est. in Armed Forces 7.0% 4.7% 4.5% Projected Annual Growth 2018 to 2023 0.5% 0.4% 0.5% 2018 Est. not in Labor Force 27.9% 33.1% 39.7%

POPULATION

Historical Annual Growth 2000 to 2018 45.6% 8.3% 2.6% LABORFORCE 2018 Labor Force Males 49.8% 48.9% 48.5% 2018 Labor Force Females 50.2% 51.1% 51.5% 2018 Estimated Households 1,340 4,236 21,580 2023 Projected Households 1,446 4,551 23,113 2010 Occupation: Population Age 16 Years or Over 1,629 5,107 25,311 2010 Census Households 658 2,278 17,718 2010 Mgmt, Business, & Financial Operations 5.2% 5.9% 10.4% 2000 Census Households 127 1,508 13,458 2010 Professional, Related 30.2% 20.9% 21.2% Projected Annual Growth 2018 to 2023 1.6% 1.5% 1.4% 2010 Service 23.0% 24.6% 20.6%

HOUSEHOLDS Historical Annual Growth 2000 to 2018 52.8% 10.0% 3.4% 2010 Sales, Office 23.4% 25.1% 25.4% 2010 Farming, Fishing, Forestry 0.3% 0.1% 0.2% 2018 Est. Population Under 10 Years 19.1% 18.1% 16.4% 2010 Construction, Extraction, Maintenance 9.2% 10.0% 9.8%

OCCUPATION 2018 Est. Population 10 to 19 Years 15.1% 16.5% 15.8% 2010 Production, Transport, Material Moving 8.7% 13.4% 12.4% 2018 Est. Population 20 to 29 Years 19.0% 17.2% 16.7% 2010 White Collar Workers 58.8% 51.9% 57.0% 2018 Est. Population 30 to 44 Years 21.9% 20.4% 20.4% 2010 Blue Collar Workers 41.2% 48.1% 43.0%

AGE 2018 Est. Population 45 to 59 Years 14.0% 16.4% 16.3% 2018 Est. Population 60 to 74 Years 8.5% 9.0% 10.8% 2010 Drive to Work Alone 83.2% 82.1% 83.7% 2018 Est. Population 75 Years or Over 2.5% 2.5% 3.6% 2010 Drive to Work in Carpool 9.7% 9.6% 10.2% 2018 Est. Median Age 27.7 28.2 30.2 2010 Travel to Work by Public Transportation 1.6% 2.7% 1.7% 2010 Drive to Work on Motorcycle - 0.5% 0.1% 2018 Est. Male Population 49.8% 49.7% 49.4% 2010 Walk or Bicycle to Work 1.0% 1.2% 1.3% 2018 Est. Female Population 50.2% 50.3% 50.6% WORK TO 2010 Other Means 1.5% 0.8% 0.6%

2018 Est. Never Married 17.1% 26.9% 33.2% TRANSPORTATION 2010 Work at Home 3.0% 3.2% 2.4% 2018 Est. Now Married 61.8% 49.8% 43.4%

&GENDER 2018 Est. Separated or Divorced 19.8% 20.0% 18.7% 2010 Travel to Work in 14 Minutes or Less 11.8% 15.1% 17.1%

MARITAL STATUS MARITAL 2018 Est. Widowed 1.3% 3.4% 4.7% 2010 Travel to Work in 15 to 29 Minutes 43.9% 43.8% 44.0% 2010 Travel to Work in 30 to 59 Minutes 49.0% 39.2% 30.7% 2018 Est. HH Income $200,000 or More - 0.8% 1.0% 2010 Travel to Work in 60 Minutes or More 0.7% 4.3% 4.0%

2018 Est. HH Income $150,000 to $199,999 1.3% 2.2% 3.6% TIME TRAVEL 2010 Average Travel Time to Work 27.8 25.9 23.4 2018 Est. HH Income $100,000 to $149,999 12.4% 9.0% 11.1% 2018 Est. HH Income $75,000 to $99,999 32.3% 19.1% 13.5% 2018 Est. Total Household Expenditure $65.8 M $187 M $1.04 B 2018 Est. HH Income $50,000 to $74,999 17.0% 21.2% 20.0% 2018 Est. Apparel $2.26 M $6.51 M $36.1 M 2018 Est. HH Income $35,000 to $49,999 17.6% 19.4% 16.9% 2018 Est. Contributions, Gifts $3.99 M $11.3 M $64.4 M 2018 Est. HH Income $25,000 to $34,999 6.1% 10.2% 10.5% 2018 Est. Education, Reading $2.22 M $6.40 M $36.9 M

INCOME 2018 Est. HH Income $15,000 to $24,999 6.4% 9.2% 10.9% 2018 Est. Entertainment $3.69 M $10.5 M $57.6 M 2018 Est. HH Income Under $15,000 6.9% 8.9% 12.5% 2018 Est. Food, Beverages, Tobacco $10.3 M $29.5 M $162 M 2018 Est. Average Household Income $59,238 $50,889 $57,601 2018 Est. Furnishings, Equipment $2.29 M $6.32 M $34.6 M 2018 Est. Median Household Income $66,974 $53,699 $50,570 2018 Est. Health Care, Insurance $5.90 M $16.8 M $92.3 M 2018 Est. Per Capita Income $21,537 $17,193 $19,588 2018 Est. Household Operations, Shelter, Utilities $20.2 M $57.9 M $321 M 2018 Est. Miscellaneous Expenses $988 K $2.82 M $15.5 M

CONSUMEREXPENDITURE 2018 Est. Total Businesses 16 72 450 2018 Est. Personal Care $861 K $2.45 M $13.5 M 2018 Est. Total Employees 485 1,049 5,055 2018 Est. Transportation $13.1 M $36.9 M $201 M 15