Dollar General Fairview Heights
Closed10261 Lincoln Trail, Fairview Heights, IL 62208
Property type
Retail
Unit / Space count
1
Price
$1241333
Building size
10,875 SF
Year renovated
2009
Occupancy
100%
Zoning code
Commercial
Lot size
2.15 acres
Property description
The 10,875 square foot building was retrofitted in 2009 to the Dollar General concept. Dollar General signed an original 10-year lease in 2009, and elected to extend the lease by 7 years in 2018. There was no rent reduction with the 7-year lease extension further illustrating their success and commitment to this location. The current expiration is set for November 30, 2026 leaving about 5.9 years left on the lease. The lease is modified triple net, with the tenant responsible for all common area maintenance, insurance and real estate taxes, and the landlord responsible for the roof and structure of the building. There are three, five-year renewal options available, each of which with a 10 percent rent increase scheduled. Dollar General operates at$8.56 per square foot, which is well-below market rents for this area. The Dollar General is located in an explosive retail corridor, home to the St. Clair Square Mall and to a number of big box retailers including Lowe’s Home Improvement, Kohl’s, Dick’s Sporting Goods, Best, Buy, Fresh Thyme Farmers Market, Office Max, HomeGoods, Weekends Only, Burlington, Petco, Hobby Lobby and several others. This corridor is perfectly positioned as an Interstate 64 exit location, at the intersection of I-64 and U.S. Route 50. As you continue to travel east along U.S. Route 50 you will come across tenants like Walmart, Sam’s Club, Menards, Target, Michaels and dozens of other national retailers that help drive the traffic to this area explaining the robust traffic counts.
Property highlights
- Original 10-Year Lease with about 5.9 Years Left
- 7-Year Lease Extension in 2018-Illustrates Tenant's Success & Commitment to this Location
- No Rent Reduction upon Lease Extension Further Illustrating Tenant Success at this Site
- 2009 Retrofit to Dollar General Prototype-Former Aldi Grocery Store
- Explosive Retail Corridor-Lowe’s, Dick's Sporting Goods, Best Buy, Kohl’s, Fresh Thyme, TJ Maxx, DSW, Golf Galaxy & Several other Big Box National Retailers Located down the Street
- 13 Miles Outside St. Louis-High-Income, Affluent Demographics-106,000+ Residents within 5 Miles-1-Mile Avg HHI: $73,800
- St. Clair Square Shopping Mall (1,084,898 SF) is 1 Mile Away-Home to Macy’s, Sears, JC Penney, Dillard’s & 100 other Stores
- Modified Triple Net Lease-Tenant Responsible for CAM, Taxes (Handles Directly), Insurance (Handles Directly) & HVAC Maintenance