Dollar Tree - Montgomery, AL_Property for Sale

10802 Chantilly Drive, Montgomery, AL, 36117, US

Dollar Tree - Montgomery, AL

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 10,000 square foot freestanding, under construction Dollar Tree located at 10802 Chantilly Parkway in Montgomery, Alabama (the “Property” or “Asset”). The Asset is 100% leased to Dollar Tree Stores, Inc. (the “Tenant”).

Dollar Tree will operate on a 10.0-year primary lease term with five, five-year renewal options with $0.50/SF rent increases every 5-years throughout those renewal options. Dollar Tree is anticipated to open on October 10th, 2024.

The Property is strategically positioned within a dense Montgomery retail corridor, shadow anchored by Walmart Supercenter, Home Depot and AMC Theaters with more than 3.3 million combined visits annually (Placer.ai). Notably, the Property sits less than 2.5 miles away from The Shoppes at Eastchase, a 750K+ square foot power center that generates more than 3.7 million visits annually and ranks in the top 15% of most visited power centers in AL.

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Attributes

Asking price

¥410,043,000

Cap rate

NOI

¥28,708,000

WAULT

10 years

Year built

2024

Building area net

929 sm

Media

Investment highlights

Shadow anchored by Walmart, Home Depot, and AMC with more than 3.3M visits combined (Placer.ai).
Investment grade tenancy (S&P: BBB) with 10 years of primary lease term.
College town with Auburn University at Montgomery (5,200+ students) less than 4-miles away.
Highly affluent area with average household incomes exceeding $166,000 and 22% population growth since 2010 within a 1-mile radius.
Strategically positioned with frontage along Chantilly Parkway and direct visibility to more than 17,000 VPD.
Nearby Maxwell Air Force Base, Alabama’s largest and most populus Air Force base with more than 12,500+ service men and women.