DOLLAR GENERAL 3311 E. PALMETTO STREET FLORENCE SC 29506

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1 DOLLAR GENERAL 3311 E. PALMETTO STREET FLORENCE SC 29506

2 Statement of Disclaimer/Confidentiality The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Jones Lang LaSalle ( JLL ) or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Property Owner ( Owner ) in connection with the sale of the Property is JLL, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Jones Lang LaSalle. Neither JLL, nor the Owner make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by JLL with respect to the projected future performance of the Property. These assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, JLL and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner, JLL, nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agrees to release the Owner and JLL from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

3 Table Of Contents Investment Highlights Financial Summary Tenant Overview Visuals Retail Site Plan Nearby Retailers Regional Map Demographics Contact

4 The Offering Jones Lang LaSalle is pleased to offer for sale the fee simple interest in a freestanding, single tenant, Dollar General located in Florence, South Carolina. The NN lease is corporately executed by Dollar General, a publicly traded company (NYSE: DG), reporting 2013 revenues exceeding $17.5 billion. Dollar General originally signed a 10 year lease term with 2 (5-year) options to extend and is currently on their first option expiring in Landlord has received notice of Dollar General s intent to exercise their second option extending the lease term to October 2022, increasing the rent by 5.58%. In addition to annual reimbursements tenants pays $400 CAM Charges monthly plus the base rent amount reflected in package. Store Sales are reported over $2M annually. The stand-alone building was built in 2003 using concrete slab foundation with metal construction and brick facade. The asset is strategically located offering excellent exposure along E Palmetto Street; the commercial corridor between Florence Regional Airport and Francis Marion University with traffic counts exceeding 22,000 vehicles per day. The surrounding market area of the subject property has nearly 9,000 people within a 3-mile radius and 35,000 within a 5-mile radius with an average household income of $43,000. Dollar General is a growing Fortune 500 company, with over $17.5 billion in revenue, and 37 percent growth since Dollar General s credit rating was recently upgraded to Investment Grade (BBB-) by Standard & Poors, and it is publicly traded on the New York Stock Exchange under the ticker symbol, DG. This chain operates over 11,000 locations nationwide and has a net worth in excess of $4 billion. Investment Summary Offering Price: $778,500 Cap Rate: 6.70% Address: 3311 E Palmetto St., Florence, SC Year Built: 2003 Site Area: 0.71 Acres Net Rentable Area: 8,125 SF Percent Leased: 100% APN: Ownership: Fee Simple Investment Highlights 8 years remaining on the NN lease and a 5.58% rental increase in 2017 with a corporate guarantee from Dollar General Recession proof tenant offering everyday consumable merchandise with above average store sales exceeding $2 Million Tenant, at Tenant s sole cost and expense, completed an interior upgrade to this store in July 2014, illustrating their longterm commitment to the site Brand new roof with 12 year warranty S&P Rated BBB-, Operates over 11,000 stores in 40 states. Ranked 164th within the Fortune 500 Companies. Fiscal 2013 revenues exceeded $17.5 billion. 4

5 Financial Summary 5 LEASE ABSTRACT Net Operating Income (NOI) $52, Rent/Month $4, Rentable SF ±8,125 Land Area ±0.71acres Parking 30 spaces Tenant Name Dolgencorp, LLC Website Credit Rating S&P: BBB- Stock Symbol DG Guarantor Dollar General Ownership Type Fee Simple Lease Type NN Landlord Responsibilities Roof, Structure, Parking Lot, HVAC CAM Reimbursement by Tenant $400/month Taxes Reimbursed by tenant Insurance Reimbursed by tenant Store Open 2003 Lease Commencement 10/15/2002 Lease Expiration 10/14/2022 (8 years remaining) Increases $4,585/month on October 15, 2017 Options 1 x 5 year option TERM ANNUAL RENT MONTHLY RENT Current - 10/14/17 $52,110 $4,342 10/15/17-10/14/22 $55,020 $4,585 Y1 TOTAL RETURN* 6.7% Y3 TOTAL RETURN* 7.1% * Unlevered The information herein has been secured from sources we believe to be reliable; however, makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to the sale or lease, or withdrawal without notice.notice.

6 Tenant Overview 6 Dollar General is a national leader in the discount variety store market. Dollar General operates more than 10,000 stores in 40 states, making it the largest small-box discount retailer in the country. The company offers a focused assortment of everyday items, including highly consumable merchandise as well as home, apparel and seasonal products from manufacturers such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg s, General Mills and Nabisco. The Dollar General model stresses convenience, quality, and low prices, attracting valueconscious shoppers. Dollar General is currently considered investment grade with a Baa3 rating from Moody s and BBB - at Standard & Poor s. Total revenues for the year ending January 31st 2014 were reported at 17.5 Billion. It expects sales to increase 8-9% in fiscal year Dollar General often places locations in communities too small for a Wal-Mart, though they also maintain many locations in close proximity to Wal-Mart. Dollar General competes with national dollar store chains Family Dollar and Dollar Tree. Regionally it competes with Fred s in the southeast as well as many independent retailers. Recently, Dollar General has experimented with stores carrying more grocery items, these stores are branded Dollar General Market. In 2007, Dollar General was acquired for $7.3 billion by a private equity group consisting of Kohlberg Kravis Roberts (KKR), a Goldman Sachs affiliate, and other co-investors. Two years after being taken private, Dollar General is again a public company through its November 2009 IPO, in what was called the largest retail-store IPO in at least 15 years by Wall Street veterans. At that offering, Dollar General raised $716 million. Dollar General announced plans to open 700 stores in fiscal year 2014 and remodel/relocate another 525 locations, a 6-7% increase in store selling square footage. The 2015 purchase of Family Dollar by Dollar Tree has increased the overall value of the discount retail industry, with the magnitude of the sale evincing a trend of consumer preference moving towards discount and promotional retailers and away from big box stores. Corporate Information Ticker Symbol: NYSE: DG Founded: 1939, Goodlettsville, TN Revenue: $14.8 Billion (FY 2013) Net Worth: $766.7 Million Credit: S&P Investment Grade Employees: 90,000 No. of Locations: 10,000+ Website: Tenant Highlights S&P Rated Investment Grade Credit 10,000 Stores in 40 States $17.5 Billion in Annual Sales 6-7% Increase in Store SF Planned

7 Retail Site Plan 7

8 Nearby Retailers 8 E Palmetto St E Marion Hwy Florence Regional Airport Florence Public Schools Collection Street Cross Street Traffic Vol Year Distance E Marion Hwy Education Ln 19, mi E Palmetto St N Koppers Rd 22, mi

9 Regional Map 9 SITE

10 Location Overview/Demographics Florence, SC: an All-American City of Industry Florence, SC, the county seat of the Florence County and the hub of the Metropolitan Statistical Area. was once named an All-American City by the National Civic League.The city was founded as a major railroad hub and retains this status, both for industry and infrastructure, while establishing itself as a regional center for business, medicine, culture and finance. 10 Florence also serves as the financial and service hub for the Eastern Carolinas, with many financial and professional management institutions invested heavily within the city. Companies with regional operations and headquarters to include, JP Morgan Chase, BB&T, Monster.com and Bank of America. It has benefited being located at the intersection of I-95 and I-20, approximately halfway between New York City and Miami, Florida POPULATION & INCOME 1 Mile Radius Population 1,513 Avg. household income - $42,870 $ 1 MILE 3 Mile Radius: Population 8,980 Avg. household income - $43,637 $ 3 MILES 5 Mile Radius Population 35,601 Avg. household income - $50,221 $ 5 MILES

11 11 Broker Information Jason Gribin Lic: Geoff Tranchi Vice President Lic: