DOLLAR GENERAL

3311 E. PALMETTO STREET | FLORENCE SC 29506 Statement of Disclaimer/Confidentiality

The material contained in this Investment Offering to it in any final, fully executed and delivered Real Estate Brochure is furnished solely for the purpose of considering Purchase Agreement between it and Owner. the purchase of the property within and is not to be used for any other purpose. This information should not, The information contained herein is subject to change under any circumstances, be photocopied or disclosed without notice and the recipient of these materials shall not to any third party without the written consent of Jones look to Owner, “JLL”, nor any of their officers, employees, Lang LaSalle (“JLL”) or Owner, or used for any purpose representatives, independent contractors or affiliates, for whatsoever other than to evaluate the possible purchase the accuracy or completeness thereof. Recipients of this of the Property. Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis The only party authorized to represent the Property Owner of the Property. (“Owner”) in connection with the sale of the Property is “JLL”, and no other person is authorized by the Owner This Investment Offering Brochure is a solicitation of to provide any information or to make any representations interest only and is not an offer to sell the Property. The other than contained in this Investment Offering Brochure. Owner expressly reserves the right, at its sole discretion, If the person receiving these materials does not choose to to reject any or all expressions of interest to purchase pursue a purchase of the Property, this Offering Brochure the Property and expressly reserves the right, at its sole must be returned to Jones Lang LaSalle. discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner Neither “JLL”, nor the Owner make any representation shall have no legal commitment or obligation to any entity or warranty, expressed or implied, as to the accuracy or reviewing the Investment Offering Brochure or making an completeness of the information contained herein, and offer to purchase the Property unless and until the Owner nothing contained herein is or shall be relied upon as a executes and delivers a signed Real Estate Purchase promise or representation as to the future performance of Agreement on terms acceptable to Owner, in Owner’s sole the Property. This Offering Brochure may include certain discretion. By submitting an offer, a prospective purchaser statements and estimates by “JLL” with respect to the will be deemed to have acknowledged the foregoing and projected future performance of the Property. These agrees to release the Owner and “JLL” from any liability assumptions may or may not be proven to be correct, with respect thereto. and there can be no assurance that such estimates will be achieved. Further, “JLL” and the Owner disclaim To the extent Owner or any agent of Owner corresponds any and all liability for representations or warranties, with any prospective purchaser, any prospective purchaser expressed or implied, contained in or omitted from this should not rely on any such correspondence or statements Investment Offering Brochure, or any other written or as binding Owner. Only a fully executed Real Estate oral communication transmitted or made available to the Purchase Agreement shall bind the property and each recipient. The recipient shall be entitled to rely solely on prospective purchaser proceeds at its own risk. those representations and warranties that may be made Table Of Contents

Investment Highlights 4

Financial Summary 5

Tenant Overview 6

Visuals 7

Retail Site Plan 7

Nearby Retailers 8

Regional Map 9

Demographics 10

Contact 11 The Offering 4

Jones Lang LaSalle is pleased to offer for sale the fee simple interest in a freestanding, single tenant, located in Florence, South Carolina. The NN lease is corporately executed by Dollar General, a publicly traded company (NYSE: DG), reporting 2013 revenues exceeding $17.5 billion. Dollar General originally signed a 10 year lease term with 2 (5-year) options to extend and is currently on their first option expiring in 2017. Landlord has received notice of Dollar General’s intent to exercise their second option extending the lease term to October 2022, increasing the rent by 5.58%. In addition to annual reimbursements tenants pays $400 CAM Charges monthly plus the base rent amount reflected in package.Store Sales are reported over $2M annually. The stand-alone building was built in 2003 using concrete slab foundation with metal construction and brick facade. The asset is strategically located offering excellent exposure along E Palmetto Street; the commercial corridor between Florence Regional Airport and Francis Marion University with traffic counts exceeding 22,000 vehicles per day. The surrounding market area of the subject property has nearly 9,000 people within a 3-mile radius and 35,000 within a 5-mile radius with an average household income of $43,000. Dollar General is a growing Fortune 500 company, with over $17.5 billion in revenue, and 37 percent growth since 2009. Dollar General’s credit rating was recently upgraded to Investment Grade (BBB-) by Standard & Poors, and it is publicly traded on the New York Stock Exchange under the ticker symbol, “DG”. This chain operates over 11,000 locations nationwide and has a net worth in excess of $4 billion. Investment Highlights Investment Summary · 8 years remaining on the NN lease and a 5.58% rental increase in 2017 with a corporate guarantee from Dollar Offering Price: $778,500 General Cap Rate: 6.70% · Recession proof tenant offering everyday consumable Address: 3311 E Palmetto St., merchandise with above average store sales exceeding $2 Florence, SC 29506 Million Year Built: 2003 · Tenant, at Tenant’s sole cost and expense, completed an Site Area: 0.71 Acres interior upgrade to this store in July 2014, illustrating their long- Net Rentable Area: 8,125 SF term commitment to the site

Percent Leased: 100% · Brand new roof with 12 year warranty APN: 90159-02-013 · S&P Rated BBB-, Operates over 11,000 stores in 40 states. Ownership: Fee Simple Ranked 164th within the Fortune 500 Companies. Fiscal 2013 revenues exceeded $17.5 billion. Financial Summary 5

LEASE ABSTRACT TERM ANNUAL RENT MONTHLY RENT Net Operating Income (NOI) $52,110.00 Current - 10/14/17 $52,110 $4,342 Rent/Month $4,342.50 10/15/17 - 10/14/22 $55,020 $4,585 Rentable SF ±8,125 Y1 TOTAL RETURN* 6.7% Land Area ±0.71acres Y3 TOTAL RETURN* 7.1% Parking 30 spaces

Tenant Name Dolgencorp, LLC * Unlevered Website www.dollargeneral.com Credit Rating S&P: BBB- Stock Symbol DG Guarantor Dollar General Ownership Type Fee Simple Lease Type NN Landlord Responsibilities Roof, Structure, Parking Lot, HVAC CAM Reimbursement by $400/month Tenant Ta xe s Reimbursed by tenant Insurance Reimbursed by tenant Store Open 2003 Lease Commencement 10/15/2002 Lease Expiration 10/14/2022 (8 years remaining) $4,585/month on Increases October 15, 2017

Options 1 x 5 year option The information herein has been secured from sources we believe to be reliable; however, +POFT-BOH-B4BMMF makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to the sale or lease, or withdrawal without notice.notice. Tenant Overview 6 Dollar General is a national leader in the discount market.

Dollar General operates more than 10,000 stores in 40 states, making it the largest small-box discount retailer in the country. The company offers a focused assortment of everyday items, Corporate Information including highly consumable merchandise as well as home, apparel and seasonal products from Ticker Symbol: NYSE: DG manufacturers such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg’s, General Mills and Nabisco. The Dollar General model stresses convenience, quality, and low prices, attracting value- Founded: 1939, Goodlettsville, TN conscious shoppers. Revenue: $14.8 Billion (FY 2013) Dollar General is currently considered investment grade with a Baa3 rating from Moody’s and Net Worth: $766.7 Million BBB - at Standard & Poor’s. Total revenues for the year ending January 31st 2014 were reported at 17.5 Billion. It expects sales to increase 8-9% in fiscal year 2014. Dollar General often places Credit: S&P Investment Grade locations in communities too small for a Wal-Mart, though they also maintain many locations in Employees: 90,000 close proximity to Wal-Mart. Dollar General competes with national dollar store chains and . Regionally it competes with Fred’s in the southeast as well No. of Locations: 10,000+ as many independent retailers. Recently, Dollar General has experimented with stores carrying Website: www.dollargeneral.com more grocery items, these stores are branded “Dollar General Market”.

In 2007, Dollar General was acquired for $7.3 billion by a private equity group consisting of Tenant Highlights Kohlberg Kravis Roberts (KKR), a Goldman Sachs affiliate, and other co-investors. Two years after being taken private, Dollar General is again a public company through its November 2009 S&P Rated Investment Grade Credit IPO, in what was called “the largest -store IPO in at least 15 years” by Wall Street veterans. 10,000 Stores in 40 States At that offering, Dollar General raised $716 million. Dollar General announced plans to open 700 stores in fiscal year 2014 and remodel/relocate another 525 locations, a 6-7% increase in store $17.5 Billion in Annual Sales selling square footage. The 2015 purchase of Family Dollar by Dollar Tree has increased the overall 6-7% Increase in Store SF Planned value of the discount retail industry, with the magnitude of the sale evincing a trend of consumer preference moving towards discount and promotional retailers and away from big box stores. Retail Site Plan 7 Nearby Retailers 8

E Palmetto St E Marion Hwy

Florence Public Florence Regional Schools Airport

Collection Street Cross Street Traffic olV Year Distance E Marion Hwy Education Ln 19,580 2012 0.45 mi E Palmetto St N Koppers Rd 22,019 2012 0.83 mi Regional Map 9

SITE Location Overview/Demographics 10 Florence, SC: an All-American City of Industry Florence, SC, the county seat of the Florence County and the hub of the Metropolitan Statistical Area. was once named an All-American City by the National Civic League.The city was founded as a major railroad hub and retains this status, both for industry and infrastructure, while establishing itself as a regional center for business, medicine, culture and finance.

Florence also serves as the financial and service hub for the Eastern Carolinas, with many financial and professional management institutions invested heavily within the city. Companies with regional operations and headquarters to include, JP Morgan Chase, BB&T, Monster.com and Bank of America. It has benefited being located at the intersection of I-95 and I-20, approximately halfway between New York City and Miami, Florida.

2014 POPULATION & INCOME 1 Mile Radius Population – 1,513 1 MILE Avg. household income - $42,870 $

3 Mile Radius: Population – 8,980 3 MILES Avg. household income - $43,637 $

5 Mile Radius

Population – 35,601 5 MILES Avg. household income - $50,221 $ 11

Broker Information Jason Gribin Geoff TranchiT I\VXCeXf\WXag 8kXVhg\iXVice President $&$#),'&$,% $&$#),'&$+# [email protected] [email protected] Lic: 01819611 Lic: 01435512