Brauvin Acquires Ten Family Dollar Stores
Brauvin Real Estate has acquired ten recently constructed properties leased to Family Dollar Stores, Inc. for $14,790,000. Family Dollar Stores, Inc. (“Family Dollar”), a wholly owned subsidiary of Dollar Tree, Inc. (Nasdaq: DLTR) operates over 7,900 retail discount stores in the United States. DLTR has a BB+ corporate rating by Standard & Poor’s, and Family Dollar’s legacy debt carries an investment grade rating of BBB. The ten properties are comprised of approximately 84,000 sq. ft. of leased space and are spread across six states. The properties are cross defaulted under a long term, triple net master lease agreement with rent increases every three years.