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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire a single-tenant Dollar General (the “Property” or “Asset”) featuring an Absolute NNN lease with over 6 years of initial term remaining. The investment presents a truly passive income structure with zero landlord responsibilities and five, five-year renewal options with 10% rental increases. The Property offers a rare opportunity to acquire a secure cash flow that is backed by Dollar General Corporation (“Dollar General”), the largest discount retailer in the nation.
Located in Cleveland, TN directly off State Route 60, the north-south highway sees 14,700+ VPD and is a major thoroughfare in Eastern Tennessee. 1.5 miles southeast of the property is Interstate 75 which passes through western Cleveland and connects the area with Knoxville to the north and Chattanooga to the south. The Property benefits from close proximity to surrounding national retailers in the trade area including Target, Walmart, Lowes, ExxonMobil, McDonald’s, Walgreens, and Ross.
- Rare Absolute NNN Lease Offering
- Investment Grade Tenancy (S&P: BBB/Moody's: Baa2)
- 50,000+ People Within 5-Mile Radius
- Dollar General Ranked #91 on Fortune 500 List
- ~15,000 Vehicles Per Day
- Dollar General Headquarters Located In Tennessee
- Surrounding National Retailers In The Trade Area
- Situated 1.5 Miles From Interstate 75
- 10% Rent Bumps Every 5-Year Extension Option
- 30-Miles Northeast of Chattanooga
BOR: Tom Hooper License: TN#283775