Dollar General (Augusta, GA MSA)
Fresh, 10-YR, Rare DG lease with 10% bumps every five (5) years
Marketing description
COULD BE ACQUIRED AS PART OF A PORTFOLIO WITH TWO OTHER ASSETS - SEE OM for links:
Colliers is pleased to offer qualified investors the opportunity to acquire this single-tenant net-leased corporate Dollar General in the town of Wagener, South Carolina, in the Augusta, GA MSA. In April 2024, Dollar General signed a 10-year lease that commenced in October 2024. The subject property recently underwent over a $200,000 renovation with exterior work, paint, HVAC replacements, parking lot work and more.
Offered at $108 PSF.
Dollar General Corporation which was founded in 1939 has an investment grade credit rating of BBB by S&P and is publicly traded on NYSE under the ticker DG. In total, Dollar General has +21,000 stores and is ranked 111 on the Forbes list, employs over 193,000 people with stores across 48 states. Their low-cost concept is critical in the current high inflation environment.
The subject property benefits from being located within the Augusta MSA, the third-largest MSA in Georgia, with a population of ±630,000 residents. Wagener benefits from being centrally located to Augusta and Columbia as it sits on major transportation routes such as U.S. 302. The economy has strong agriculture and agribusiness ties and there is major investment in the public facilities of the city including a $50.6M new high school completed in December 2024.
Investment highlights
Investment Grade Credit with over 21,000 locations
- Ranked 111 on the Forbes List, the retailer operates stores in 48 US states
- Dollar General was founded in 1939 and now has over 80+ years in business
- Dollar General is publicly traded on NYSE under the ticker DG and features an investment grade credit rating of BBB by S&P
- DG experienced a dominant 2025. Fiscal 2025 net sales increased 5.2% to $42.7B
Ten-Year lease with favorable terms for Landlord
- Dollar General executed its lease in April 2024 and rent commenced in October 2024
- 10% rental increases every five (5) years including five 5-year options
- Tenant pays $7.95 PSF, a very reasonable rent
- Subject property recently underwent a ±$200,000 renovation with new HVAC units, painting, exterior repairs, parking lot work and more
Augusta MSA Advantage
- Third largest in the state of Georgia and a top 100 MSA by population nationally
- Approximately 630,000 residents
- Wagener is approximately 20 miles of the center of Aiken, SC and 30 miles to Columbia, SC
- Wagener is in the northeast part of Aiken County, with a population of approximately 170,000 residents, and is experiencing strong population growth
Strong Demographic Profile
- There are 116,500 people within a 30-minute drive time of the property
- Within a 10-minute drive time, population is projected to grow 6.7% from 2024-2029
- ±116,000 people within a 30-minute drive time
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