Tenant: Dollar Tree & Coin Laundry Premises: 15176 SF Renewal Options: 2 x 5
Lease Expiration: 07/21/2024 and 2033 Lease Type: NN Rental Increases: Every 5 Years
Recently renovated two-tenant property
$600,000+ in renovations
New electrical throughout building
Roof in excellent condition
Long term leases
8.5 years remaining on Dollar Tree lease
Coin Laundry tenant signed new 18 year lease
$4,800/year additional rent from signage (not included in capitalization)
Both tenants have attractive rental increases and option terms
Minimal landlord responsibilities
Convenient freeway access – Located less than one mile from the 10 freeway and 2.5 miles from the 110 and 101 freeways
Extremely dense area – Over 600,000 people within 3 miles and over 1,200,000 people within 5 miles
Nearby retailers include: Food 4 Less, CVS, McDonald’s, Starbucks, and more
Tenant Overview
Dollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of ten distribution centers. The company operates one dollar stores under the names of Dollar Tree and Dollar Bills.
The company also operates a multi price-point variety chain under the name Deal$. 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. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.
Seville Assets, LLC is a multi-unit coin laundry operator and owns several locations in the surrounding area.