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INVESTMENT HIGHLIGHTS

• Providence MSA – With nearly 83,000 residents, Cranston is the second largest city in the state of Rhode Island and is located just outside of the heart of Providence which is the state capital.
• Strong Investment Grade Credit Tenant – This is a corporate-backed lease with an S&P investment credit rating of BBB and Moody’s Baa2. Dollar Tree acquired Family Dollar in 2015 and they are considered to be the second-largest discount retailer in the United States with more than 15,500 locations combined.
• New Roof – The roof of this location was just replaced in October of 2023 and will carry a 15 year warranty.
• Limited Responsibilities – Under the lease, unlike many other Family Dollar/ Dollar Tree leases. Family Dollar is required to maintain and replace the HVAC and also pays property tax directly to the taxing authority.
• Long Term Lease – There are ±4 years remaining on the initial 10 year term.
• Net Lease – This lease requires minimal landlord responsibilities, ideal for an investor looking for a passive and secure stream of income.
• Nearby National Tenants – Along with a strong mix of local and regional businesses, some nearby national tenants include Walgreens, 7-Eleven, O’Reilly Auto Parts, VCA Animal Hospital, Dairy Queen, Dunkin’, CVS, Stop & Shop, Dollar Tree, TD Bank, Chase Bank, and many more.
• Excellent Demographics – Being that Cranston is the residential hub for Providence there are over 144,000 persons in the 3-mile radius and over 316,000 residents in the 5-mile.
• Essential Retailer – Family Dollar continues to prove its resilience against the COVID-19 pandemic and through economic downturn.