CSRA GM Dothan, DST

Location: 5105 Montgomery Highway Dothan, Alabama 36303

OFFERING SIZE: $3,516,000

LOAN: $6,000,000

  • LOADED PURCHASE PRICE: $9,516,000
  • LOADED PURCHASE PRICE: $9,516,000
  • LOADED LOAN-TO-VALUE: 63.05%

Home to nearly 143,000 people, the Dothan metropolitan statistical area offers its residents affordable housing, low property taxes, and a variety of services, including healthcare, education, shopping and entertainment. Dothan is located just a few miles from the state lines of Florida and Georgia.

Montgomery Highway Dothan, Alabama

This newly constructed
45,600-square-foot Class A
Gander Mountain sporting
goods store is located in
Dothan, Alabama. The store
is 100% leased by Gander
Mountain Company, the
nation’s largest retail network
of stores for hunting, fishing,
camping, marine and outdoor
lifestyle products and services.

PROPERTY OVERVIEW

5105 Montgomery Highway Dothan, Alabama 36303

This newly constructed 45,600-square-foot Class A Gander Mountain sporting goods store is located in Dothan, Alabama. The store is 100% leased by Gander Mountain Company, the nation’s largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle products and services. The store is scheduled to open in November 2013.

PROPERTY DETAILS

Lease: New 15-year lease

Structure: Triple net lease, where the tenant is responsible for all operating costs

Rent Bumps: 10% rent increases in years six and 11 of the initial term

Options: Four extension options of five years each with 8% rent increases each option period

Parking: 229 surface parking spaces, including eight handicapped spaces.

 QUALITY: Class A

GANDER MOUNTAIN COMPANY

Gander Mountain Company operates the nation’s largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle products and services. Established in 1960 and headquartered in St. Paul, MN, Gander Mountain Company offers an assortment of outdoor equipment, firearms, camping supplies, fishing and marine products, technical and rugged outdoor apparel, and casual footwear, as well as gunsmith and archery services. Gander Mountain Company features a selection of national, regional and local brands and its own brands.

Gander Mountain Company 2012 Highlights:

  • In excess of $1 billion in revenue
  • Exceeded 4-year goals, including debt paydown
  • Double digit sales growth over prior year
  • 6,500+ employees in 130+ stores in 24 states
  • Expansion of new prototype stores

MARKET OVERVIEW

The Dothan area is home to several major corporations, including General Electric, Michelin, McLane, Twitchell, International Paper, Globe Motors, Cummings Sign, Wayne Farms, Swedish Match, Qualico Steel, E & H Steel, Dunbarton, Flavor House, Nypro ALABAMA and AAA Cooper Transportation – Headquarters.

The area has a rich history in the development of aviation jobs in Alabama through Enterprise-Ozark Community College (avionics and aviation mechanic training) and Fort Rucker, the Army Aviation Center of the United States.

Education, quality of life and industry support provide the impetus for the continued development of the Dothan area. With strong support from the Wallace Community College system, Alabama Technology Network, Troy University Dothan Campus and K-12 programs that are geared to industry, the infrastructure is present to meet the needs of existing and future businesses and industries.

ABOUT CAPITAL SQUARE

Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.