Family Dollar Dollar Tree
Family Dollar signed a 10-year corporate lease for a new construction Family Dollar Tree single tenant Combo Store location in Whitewright, Texas (less than 1 hour north of Dallas). Currently under construction, the Property consists of an approximate 10,500 SF retail building situated on 1.16 acres of land. The lease is corporately guaranteed by Family Dollar Stores, Inc., a wholly owned subsidiary of Dollar Tree, Inc. (NASDAQ: DLTR). Dollar Tree, which reported revenue in excess of $25.5 billion in 2021, is rated “BBB” by S&P which is considered investment grade. Starting annual rent is $11.00 PSF with limited landlord responsibilities. The lease also features $0.50 PSF rent escalations during each of the four, 5-year renewal options. In addition, the Property benefits from close proximity to McKinney (30 minutes), Sherman (20 minutes) and Greenville (30 minutes), all established and high-growth DFW submarkets. Family Dollar Tree Combo Store's rent commencement date is projected for February 2023.