Family Dollar

Tenant

Family Dollar

Location

New Ellenton, SC

Price

$1,100,00

CAP Rate

6.59%

NOI

$72,490

Lease Term

Unstated

Occupancy

100%

Building Size

8,503 SF

Property Type

Single Tenant

Year Built

1967

Lot Size

1.17 Acres

Status

Closed

Property Contacts:

Karly Iacono

Associate Director

201-742-6119 | Email

  • NNN Lease Requires Zero Landlord Responsibilities
  • New Built-to-Suit Construction Featuring Modern Prototype Store
  • Strong Standard & Poors BB+ Grade Credit Rating

Family Dollar was founded in 1959 by Leon Levine, a 21-year-old entrepreneur. In November of that year, the companys first store was opened, in Charlotte, North Carolina. In 1961, their first store in South Carolina opened, followed by stores in Georgia and Virginia, which were opened in 1962 and 1965, respectively. During the 1960s, the store company was largely a southern United States operation. By 1969, there were fifty stores in Charlotte alone. On July 28, 2014, Dollar Tree announced that it would acquire Family Dollar for $74.50 per share, a deal valuing Family Dollar at $8.5 billion, and that Dollar Tree would also assume $1 billion in debt currently owed by Family Dollar, for a total of $9.5 billion. This acquisition allowed for Dollar Tree to grow their dollar store network to over 13,000 stores and annual sales exceeding $20B a year. Headquartered in Chesapeake, VA, Dollar Tree is the largest and most successful single-price-point retailer in North America, operating thou-sands of stores across 48 contiguous U.S. states and five Canadian provinces, supported by a solid and scaleable logistics network.