Tuesday, June 5, 2012

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 59th Avenue (Family Dollar #6228)
·      10645 N 19th 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 22nd, 2003 and March 30th, 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.
Paul Dionne
Research Analyst
(202) 258-9508

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