Dollar Tree – Marrero

Short Description:
The Cooper Commercial Investment Group is pleased to announce the sale of the brand-new Dollar Tree located in Marrero, Louisiana. Dan Cooper, President and Broker of the Cooper Commercial Investment Group in Cleveland, Ohio had the privilege to represent the owners, a private development group out of Alabama. The Buyers were an institutional fund out of Minnesota and were directly found by Cooper within the first twenty minutes of the property being marketed for sale. The sale of the property was for $1,770,000, representing a 7.82% CAP Rate and 96% of the listing price.

Details
The 11,200 square foot property is optimally located along the Westbank Expressway, which continues as U.S. 90 throughout the entire New Orleans metropolitan area. The brand-new (2012 construction) brick building was built to accommodate its single tenant retailer, Dollar Tree, who hand-picked this particular location for its expansion in Louisiana and the United States. This newly built-to-suit location is on a brand-new, 10-year Triple Net (NNN) Leases through 2022 with (3) 5-Year renewal options thereafter. Dollar Tree conveniently places their stores in thriving areas, which allows for them to remain the most successful single price point retailer in the United States. Dollar Tree is publicly traded on NASDAQ under ticker symbol “DLTR” and has reported profits growing by double digits for five consecutive quarters. The Dollar Tree is strategically positioned on the main thoroughfare (Westbank Expressway) and is surrounded by a heavy concentration of residential homes, national retailers, commercial properties and major employers. U.S. 90 crosses the Mississippi River on the Crescent City Connection and runs along the Westbank Expressway in the New Orleans Central Business District. The property is in an area that is highly sought after in a high barrier to entry market. The location is a prime area for commuters along the Westbank Expressway/U.S. 90 into Downtown New Orleans. The store in constructed with significant frontage with convenient access. Additionally, the property is positioned within a high population density area (222k people within 5-miles of the property) with average household incomes over $75,000 within a 3-mile radius. The Cooper Group looks forward to working with parties interested in selling or looking to acquire such assets, and encourages you to contact us for an evaluation of your commercial property. Please visit us on-line at www.coopergrp.com for the most up-to-date listings and information, “Like” us on Facebook and follow us on Twitter @TheCooperGrp