VIZZDA, June 5th, 2012 — Family Dollar (FDO) sold five of their West Valley stores to Realty Income (O) of Escondido, CA for $9,253,004 or $192.20 per SF. The five freestanding retail properties total 48,141 SF for an average of 9,628 SF per building. As a condition of the sale, Family Dollar has signed a 15-year lease agreement on all five properties with six successive 5-year renewal options. The addresses of the conveying properties are as follows:
· 1625 W Buckeye Rd (Family Dollar #6177)
· 1623 W 59th Avenue (Family Dollar #6228)
· 10645 N 19th Avenue (Family Dollar #6098)
· 9602 W Van Buren St (Family Dollar #6101)
· 8411 W Indian School Rd (Family Dollar #6308)
All five properties were acquired as vacant land in separate transactions between October 22nd, 2003 and March 30th, 2004. The total transaction value of these purchases at the time was $1,205,270. Prior sellers were Harold Hildebrand of Tristar Companies, Ernest Brunch of Beste Management, Herve J.R. Tessier of TP Land Investments, Betty Salazar, Andrew Mellen and Dennis Younes.