Family Dollar/Dollar Tree - Stovall, NC
SHOP Companies is pleased to offer for sale fee simple interest in a Family Dollar/Dollar Tree combo store located in Stovall, NC. With over 300 stores now open and over 3,000 markets identified, Dollar Tree’s new Family Dollar/Dollar Tree Combo store concept is transforming the retail landscape in America’s small towns. Primarily serving populations of 3,000 to 4,000, the new format builds on the success of both brands delivering comp sales that exceed 20%. Dollar Tree, Inc. (NASDAQ: DLTR), which also owns the Family Dollar Brand, is thriving in 2022.
The subject property is a 10,500 SF building on 1.04 acres subject to a new 10-year lease. The corporate lease is guaranteed by Family Dollar/Dollar Tree’s investment-grade parent company, Dollar Tree, Inc. (NASDAQ: “DLTR”) (S&P: BBB), which is scheduled to commence in December 2022. This new construction property is located in Northern North Carolina in Stovall, ten minutes from the Virginia state line and 15 minutes from the Henderson-Oxford Airport. Highway 15 joins Stovall to Interstate 85, connecting the city to Durham, NC, and Richmond, VA. Family Dollar/Dollar Tree is strategically positioned on the hard corner next to a high-performing Dollar General location, with the closest Walmart being 12.5 miles southeast in Henderson, NC. Family Dollar/Dollar Tree operates under a NN lease with landlord responsibilities limited to roof and structure. The lease features rent increases in each of the three (3), five (5) year option periods.