Family Dollar

From its oak-lined streets to its lovely, turn-of-the-century homes, Laurel is a charming and gracious southern town. Located in the southeast region of Mississippi known as the Pine Belt, the city of Laurel was originally established in 1882. It flourished during the growth of the timber industry just over a century ago. In 1893, a decade after the railroad opened the region for large-scale timber production, Eastman-Gardiner & Company opened the first giant lumber mill. The Eastman-Gardiner mill was soon followed by many others, making Laurel a very large milling town. By the early 1900’s, Laurel milled and shipped more yellow pine than anywhere else in the world. In 1899, John Lindsey invented the eight-wheeled wagon “Lindsey” wagon, revolutionizing the timber industry. In 1926, William Mason discovered a process to make durable, inexpensive hardboard from the massive amounts of wood paste produced by the mills. His Mason Fibre Company became the international Masonite Corporation. In 1942, a new industry began with the discovery of oil in Laurel and today there are more than 150 companies providing regional service for oil and gas drillers. In the 1950s and 60s, home-owned and operated “mega-businesses” further diversified our economy in the areas of electrical transformers, poultry processing, metal fabrication, drag conveyor systems, walk-in refrigerators and plastic moldings.Fortis Net Lease is pleased to present this 7,250 SF. freestanding Family Dollar store located in Laurel, Mississippi. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. There are 5 years remaining on the primary term. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar Tree Stores, Inc. which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store is currently open with rent having commenced in February 2015. This Family Dollar is highly visible as it is strategically positioned on the signalized corner of Sawmill Road (which sees 8,994 cars per day) and Mason Street (which sees 6,799 cars per day). The site can conveniently be accessed from both streets. The five mile population from the site is 28,873 while the one mile average household income is $57,921 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $102,080.