Dollar Tree - WAG Sublease - Wilmington NC 2606 Carolina Beach Rd

• The tenant, Dollar Tree, has over 2 years left on their initial term with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 2% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation
• Dollar Tree, a Fortune 200 Company, operated 16,622 stores across 48 states and five Canadian provinces as of October 28, 2023
• The subject property is located in a dense retail corridor, with numerous national/credit tenants including McDonald’s, KFC, O’Reilly Auto Parts, Advanced Auto Parts, Autozone, Walgreens, CVS, Food Lion, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• Furthermore, the asset benefits from close proximity to Legion Stadium
(6,000 seats) and Novant Health New Hanover Regional Medical Center (800 beds), further increasing consumer traffic to the site
• The Dollar Tree is located near the signalized, hard corner intersection of U.S. Hwy 117 and Carolina Beach Rd. with a combined (65,100 VPD)
• The asset has excellent visibility via significant street frontage and a large pylon sign
• Multiple points of ingress/egress
• More than 127,000 residents and 69,000 employees support the trade area, providing a direct consumer base from which to draw
• $91,113 average household income