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- Dollar General Expands Presence, Marks Milestone With Montana Store Opening
Dollar General Expands Presence, Marks Milestone With Montana Store Opening
Dollar General celebrates the grand opening of its first store in Montana, adding to its reach across all 48 continental U.S. states and plans for future expansion in the Treasure State.
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Notable Comp: Matthew Bucaro and Michael Bucaro of Tauro Capital Advisors, just financed this Sonic.
Loan Amount: $1,700,000 (50% LTV)
Interest Rate: 6.48% Fixed
10-Year Term / 30-Year Am / No Prepay Penalty
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Here’s what we’ve got for you today:
Dollar General expands to Montana with the opening of its first store in Columbia Falls, plans for more locations in the state
Wawa plans to open 60 stores in Ohio and 60 stores in Indiana over the next 8-10 years
Rite Aid prepares for Chapter 11 bankruptcy plan, including 400 to 500 store closures and asset sales
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DG x Hannah Montana
Dollar General Opens First-Ever Store in Montana with Two More Under Development
Dollar General Corporation
Hannah Montana: Dollar General has achieved a major milestone in its expansion efforts with the opening of its first store in Montana. With this new location, Dollar General now has stores in all 48 continental U.S. states. The retailer also has plans to open more stores in Montana in the coming months.
Continued growth: Dollar General's expansion into Montana demonstrates its commitment to providing convenient and affordable access to household essentials across the country. The company has experienced success with its replacement tenants in former Sears spaces, projecting higher sales compared to the previous occupant.
💰 THE MONEY SHOT
Manifest Destiny: The Company now currently operates 19,488 Dollar General, DG Market, DGX, and PopShelf stores across the United States and Mexico.
For a contact list of Dollar General property owners reply “DG List” to this email.
GAS ‘EM UP WAWA
Wawa Plans to Open 60 Stores in Ohio and Indiana by 2024
Wawa, Inc.
Expanding presence in Ohio and Indiana: Wawa has already secured more than 16 sites in Ohio and Indiana each. The company is actively seeking potential sites for new stores in these markets and has announced its ambitious plans to open 60 stores in Ohio and 60 locations in Indiana over the next eight to ten years.
Investment and employment opportunities: Each Wawa store will require an investment of approximately $7 million and will employ 140 contractors and local partners during construction. Once opened, each store will employ an average of 35 workers.
💰 THE MONEY SHOT
One Thou Wow: The privately held, family and associate-owned Wawa currently operates nearly 1,000 stores across in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida and Washington, D.C.
For a contact list of Wawa property owners reply “Wawa List” to this email.
TRAPPIN’ AIN'T EASY
Rite Aid Prepares Bankruptcy Plan, Including 400 to 500 Store Closures and Asset Sales
Rite Aid Corporation
Store closures and asset sales: Rite Aid plans to close 400 to 500 of its 2,100 stores and potentially sell or transfer remaining operations to creditors. A group of bondholders is pushing for a larger number of store liquidations, and discussions are ongoing.
Bankruptcy to address debt and lawsuits: With over $3.3 billion in long-term debt and facing over 1,000 federal and state-level lawsuits regarding its alleged contribution to the opioid crisis, Rite Aid's anticipated Chapter 11 filing aims to handle its debt load and settle pending legal allegations.
💰 THE MONEY SHOT
Drug Dealin’: Rite Aid's bankruptcy plan involves store closures, asset sales, and a focus on resolving debt and legal challenges associated with opioid prescriptions. The struggling chain aims to restructure its operations and position itself for a more sustainable future in a highly competitive pharmacy market.
For a contact list of Rite Aid property owners reply “Rite Aid List” to this email.
TRIPLE NET TENDIES
🧠 Thought Leader: @TripleNetInvest goes off on Twitter about why we will soon see Starbucks deals in the mid-6s or even 7 caps
👂 Ear Hustle: Crexi interviews Nicoletti DePaul, COO of NNN Pro Group
💎 Web Gem: The Boulder Group Releases the Net Lease Tenant Profiles Report
Net Lease Nuggies
Aaron’s Next Gen Stores: With 32 GenNext stores opened this year, the company now boasts a total of 243 GenNext stores, featuring larger showrooms, updated layouts, and enhanced technology-enabled shopping.
Rack It Up: Nordstrom plans to open multiple new Nordstrom Rack locations across the U.S. between spring and fall 2024. The expansion includes stores in New York, Ohio, California, Arizona, Georgia, Illinois, Florida, and more.
Toys R Us plans to expand with the opening of new stores at airports, cruise ships, and brick-and-mortar locations across the US. The brand, which previously filed for bankruptcy in 2017 and closed all its stores in 2018, made a comeback in 2021 with a flagship store and currently has shops in Macy's department stores.
Açaí Awakening: OAKBERRY's unique franchise opportunity offers authentic açaí bowls with a visually captivating dining experience. With a focus on simplicity and quality, they have successfully expanded to over 30 countries.
Gelson's Partners with Rove for New EV Charging Stations: Gelson's, a specialty grocer in Southern California, is teaming up with EV-charging station developer Rove to offer food and beverage services at Rove's charging stations.
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