B+E is marketing a Dollar Tree Stores/Goodwill property located at 1301-1309 W. Broadway, Centralia, Illinois for sale. The asset is seeking$2,631,000.
The property, approximately 32,342 square feet and sitting on more than 3.7 acres of land, is listed at an initial cap rate of 8 percent. There are approximately seven years remaining on the lease.
“This investment is corporately secured by strong operating tenants Dollar Tree Inc. and MERS Goodwill,” said Sam Wilson with B+E. “Dollar Tree Inc. is the world’s leading operator of $1 price-point department stores with 2019 revenues of $22 billion and MERS Goodwill operates under one of the largest U.S. nonprofit companies…with over $173 million in revenues for 2019.”
Despite the ongoing COVID-19 pandemic, Dollar Tree saw revenue increase 9.4 percent in the second quarter of fiscal 2020 to $6.29 billion and same-store sales increase 7.2 percent overall.
The property is located within a dense retail trade area with notable tenants including Walmart, Big Lots, AutoZone, Schnucks and ALDI.
