Once an existing Rite Aid store, this freshly renovated building is now occupied by Family Dollar.
• Family Dollar executed a new 10 year lease with four 5 year options to renew. The lease is guaranteed by Family Dollar, Inc. Rent Commencement was October 1, 2020 with the primary term expiring September 30, 2030. There are approximately 7.6 years remaining on the primary term. The Lease includes rent increases every 5 years with the next increase due October 1, 2025 at 7.03%. Rent increases at each option period.
• Family Dollar has invested $200,000 on their Tenant Improvements and the previous Landlord invested over $125,000 on Tenant Improvements, leasing commissions and Landlord Improvements for Family Dollar. The recent investment into the property is over $300,000 plus fixtures and equipment.
• Major improvements: the roof was replaced in 2016 and tuned up in 2020; parking lot was repaired, resealed and striped in 2019; the entire exterior of the building was repainted in 2020 and a new drop ceiling installed in 2020.
• Family Dollar has been serving the City of Marmet, WV and its surrounding are a for over 10 years prior to moving into this new location that has been previous occupied by Rite Aid. Family Dollar moved to this more prominent location within close proximity to Interstate 64 on and off ramps. The location has great visibility for Family Dollar, ample parking, direct freeway access and directly across from Kroger.