Dollar Tree

Marcus & Millichap is pleased to present the Dollar Tree located in Cresco, Iowa.​

The 10,000 square foot Dollar Tree store will be build-to-suit construction in 2023.​ The property is located right off of North Elm Street and is passed by nearly 6,000 vehicles every day.​ The location is positioned in a dense retail corridor including both national and local tenants.​ Retail traffic drivers include Fareway Meat and Grocery, Ace Hardware, Super 8 Hotel, Bomgaars, Hy-Vee Grocery Store, A&W Restaurant, Casa De Oro, and more.​

The Tenant signed an original 10-year lease with no early termination clauses leaving the full lease term remaining for an incoming investor.​ The lease is considered modified triple net, with the landlord being responsible for the roof and structure and the tenant reimbursing for all expenses including the common area maintenance, taxes, and property insurance.​  There are five, five-year renewal options available, each of which having a rent increase scheduled, except for in the first option.​ 

Dollar Tree was founded in 1986 and in 34 years has grown to more than 16,000 locations across 48 states and Canada.​ The tenant continues its impressive earnings and growth performance with an expected 650 stores opening in 2023.​ The company is publicly traded on the NASDAQ under the ticker “DLTR” and carries an investment credit rating of “BBB-” from S&P.​

oBrand-New 2024 Build-to-Suit Construction

oOriginal 10-Year Lease │ Full Term Remaining | Estimated Delivery 3/4/2024

o Dollar Tree Earnings Per Share up 1.5%│Same Store Sales up 8.7%

oModified Triple Net Lease | Landlord Responsible for the Roof & Structure

oFive, Five-Year Renewal Options | Rent Increases in Each of the Options After the First Option Period

oDollar Tree Plans to Open 650+ New Locations in 2023 | Almost 200 More than the 450+ the Company Opened in 2022

oConsolidated Net Sales Increased 7.6% to $28.32 Billion During the 2022 Fiscal Year

oDollar Tree is Publicly Traded on the NASDAQ  (“DLTR”) | S&P Rated “BBB-”