Family Dollar / Dollar Tree | Spiro OK
Retail
FORT SMITH MSA | HIGHWAY 271 FRONTAGE
The subject property is located in Spiro, Oklahoma which is a part of the Fort Smith, Arkansas-Oklahoma Metropolitan Statistical Area which is home to over 273,000. Spiro sits 3 miles south of the Arkansas River, 17 miles southwest of Fort Smith, and 10 miles west of the Oklahoma-Arkansas border. The subject property sits right next to Old Spiro Lake directly on Highway 271 which sees almost 11,000 VPD.
NEW COMBO STORE FORMAT
According to Dollar Tree, the combined Family Dollar and Dollar Tree format store sales are on average 20% higher than in Family Dollar stores without the Dollar Tree features. With the success of the combination format, in 2023 Dollar Tree added 650 new or relocated combo stores with at least 300 being the new combo store concept with many more slated for 2024.
HIGHLY PASSIVE LEASE | MINIMAL LANDLORD OBLIGATIONS | BRAND NEW 10-YEAR LEASE
The subject property is operating under a highly passive corporate guaranteed lease with minimal landlord obligations. The subject lease offers Five (5), Five (5) year options to extend with rental increases of $0.50/SF in the option periods.
INVESTMENT GRADE CREDIT | FORTUNE 150 COMPANY | RAPIDLY EXPANDING RETAILER
In 2015, Dollar Tree acquired Family Dollar, now the Fortune #137 company boasts over 16,475 locations and opened 650 new locations in 2023. Dollar Tree boasts an investment grade credit rating of BBB with Standard & Poor’s and had TTM Revenue of $29.31B, TTM EBITDA of $2.49B, and TTM Net Income of $1.62B.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.