Dollar Tree – Jerseyville, IL
St. Louis MSA
- 6% Income Stream
- Square Footage: 9,000
- Lease Commencement: April 2, 2018
- Lease Expiration: March 31, 2028
- Company Revenue: $8.6 Billion
- Stock Symbol: NASDAQ: DTR
- Locations: 13,600
- 45 minutes from St. Louis Airport
Dollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. Headquartered in Chesapeake, Virginia, it is a member company of Fortune 500 and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of eleven distribution centers. The company operates one-dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates multi-price-point variety chains under the names Deals and Family Dollar.
Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands.
Jerseyville was recently selected as inter-modal hub bringing 1,000 jobs to the area: See Here
Exchanging Hassle For Happiness
Investment Highlights
- Brand New Construction
- Estimated Rent Commencement February 2, 2018
- New 10 Year Lease
- Modified NNN Lease | Landlord Responsible for Roof & Structure
- Cap Rate: 6%
- Wal-Mart Supercenter Outparcel
- Located Next to Brand New Taco Bell
- Investment Grade BB+ Credit Rating
(Standard & Poor’s) - Year Built: 2018
- Lease commenced April 2, 2018
Dollar Tree took possession of the building under a temporary occupancy permit in February of 2018 and commenced paying rent on April 2, 2018. The final construction punchlist is being completed by the developer and final occupancy is expected in May. The lease is structured as modified triple-net, with the tenant responsible for CAM, Taxes, and Insurance and the Landlord responsible for the roof and structural components of the building.
The property is positioned ideally in the main retail thoroughfare in Jerseyville, as a Wal-Mart Supercenter outparcel. There is a brand-new Taco Bell being built on the pad site next door to this building, illustrating the continuous growth of this corridor and market as a whole.
In March of 2018 Jerseyville announced a partnership with Kansas City Southern to construct an extensive inter-modal hub. The $500 million dollar project is estimated to bring 1,000 jobs to the local economy immediately. See Here
Market Overview
The St. Louis metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. The metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.8 million residents. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens.
Metro Highlights
Central Location
The central U.S. location and Mississippi River accessibility allow for fast access to markets both domestically and internationally.
International Freight Corridor
The Kansas City Southern rail line runs from Mexico to just south of Chicago. It travels through the rural farmlands in the eastern limits of Jerseyville. Historically International freight would travel north on this line and transfer to another rail line and be off loaded in Chicago for distribution. Under a deal just reached with Kansas City Southern, Jerseyville City and a developer a major facility will be constructed here where freight is offloaded to trucks and distributed to surrounding states.
Affordable Cost of Living
Home prices are well below other large markets in Midwestern states and the U.S. overall.
The Economy
- Jerseyville is slated to play an increased role in St. Louis area economy.
- St. Louis is highly ranked for its logistics infrastructure, bolstered by its central geographic location and easy access to major waterways. It is a significant inland port.
- The region is emerging as a large financial services center, with Jones Financial locally headquartered and Reinsurance Group-America as a major employer in the area.
- Government entities pursue business development and provide resources for startups, along with incubators with guidance and inexpensive office and lab space.
Demographics
- The metro is expected to add nearly 80,000 people through 2021, which will result in the formation of approximately 40,000 households.
- A median home price below the national level has produced a homeownership rate of 70 percent, which is well above the national rate of 64 percent.
- Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among those residents, 12 percent also have earned a graduate or professional degree.
Population
In 2016, the population in your selected geography is 1,643. The population has changed by 1.92% since 2000. It is estimated that the population in your area will be 1,672.00 five years from now, which represents a change of 1.77% from the current year. The current population is 45.62% male and 54.38% female. The median age of the population in your area is 43.18, compare this to the US average which is 37.68. The population density in your area is 522.44 people per square mile.
Households
There are currently 685 households in your selected geography. The number of households has changed by 3.01% since 2000. It is estimated that the number of households in your area will be 700 five years from now, which represents a change of 2.19% from the current year. The average household size in your area is 2.28 persons.
Income
In 2016, the median household income for your selected geography is $43,080, compare this to the US average which is currently $54,505. The median household income for your area has changed by 38.05% since 2000. It is estimated that the median household income in your area will be $51,075 five years from now, which represents a change of 18.56% from the current year.
The current year per capita income in your area is $25,312, compare this to the US average, which is $29,962. The current year average household income in your area is $58,374, compare this to the US average which is $78,425.
Race and Ethnicity
The current year racial makeup of your selected area is as follows: 96.82% White, 0.38% Black, 0.00% Native American and 0.32% Asian/Pacific Islander. Compare these to US averages which are: 70.77% White, 12.80% Black, 0.19% Native American and 5.36% Asian/Pacific Islander. People of Hispanic origin are counted independently of race.
People of Hispanic origin make up 1.67% of the current year population in your selected area. Compare this to the US average of 17.65%.
Employment
In 2016, there are 1,108 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 49.18% of employees are employed in white-collar occupations in this geography, and 51.50% are employed in blue-collar occupations. In 2016, unemployment in this area is 6.98%. In 2000, the average time traveled to work was 30.00 minutes.
