- Build-To-Suit For Dollar Tree In 2013
- Over Eight Years Remaining On Initial Term
- Double-Net Lease (Minimal Landlord Responsibility)
- Two - Five Year Options To Extend (With Rental Increases)
- 66.96% Population Increase Since 2000
- Shadow Anchored By Walmart Supercenter & Aldi
Marcus & Millichap is pleased to present for your review the Dollar Tree in Monticello, MN. The investment consists of an 8,000 square foot, net-leased discount store operating as Dollar Tree. The tenant’s current 10 year lease ends October 31, 2023 which leaves 8+ years remaining. The building was a build-to-suit for Dollar Tree in 2013. In addition the tenant has two-five year terms to extend the initial term. The lease is structured as a double-net lease with minimal Landlord responsibilities. Dollar Tree is responsible to pay for all taxes, insurance, utilities, repairs & maintenance (both interior and exterior) including the parking lot and HVAC. Landlord is responsible for capital improvements to the roof and structure.
In the event the gross sales of tenant from the premises should aggregate less than $1,300,000 in months 49-60 from the lease term commencement date (Sales Period), tenant may terminate this lease by providing written notice to be given within 90 days of the last date of the Sales Period. In the event Walmart, or replacement tenant vacates, Dollar Tree will begin immediately paying to landlord 3% of gross sales, not to exceed one-half of all rents due under this lease, until space leases back up.
Immediately surrounding the area is a strong mix of recognizable tenants such as Wal-Mart, Aldi, Buffalo Wild Wings, Great Clips, Culver’s, Arby's, Anytime Fitness and many others. This retail corridor is located just off of interstate 94.