Family Dollar Executes $9.25m Sale-Leaseback on Five West Valley Properties

VIZZDA, June 5th, 2012 -- Family Dollar (FDO) sold five of their West Valley stores to Realty Income (O) of Escondido, CA for $9,253,004 or $192.20 per SF. The five freestanding retail properties total 48,141 SF for an average of 9,628 SF per building. As a condition of the sale, Family Dollar has signed a 15-year lease agreement on all five properties with six successive 5-year renewal options. The addresses of the conveying properties are as follows:

·      1625 W Buckeye Rd (Family Dollar #6177)

·      1623 W 59^th Avenue (Family Dollar #6228)

·      10645 N 19^th Avenue (Family Dollar #6098)

·      9602 W Van Buren St (Family Dollar #6101)

·      8411 W Indian School Rd (Family Dollar #6308)

All five properties were acquired as vacant land in separate transactions between October 22^nd, 2003 and March 30^th, 2004. The total transaction value of these purchases at the time was $1,205,270. Prior sellers were Harold Hildebrand of Tristar Companies, Ernest Brunch of Beste Management, Herve J.R. Tessier of TP Land Investments, Betty Salazar, Andrew Mellen and Dennis Younes.
By:
Paul Dionne
Research Analyst
(202) 258-9508
pdionne@vizzda.com