Net Lease Dollar General Plus Sale Arranged Date December 18, 2017
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Dollar General Plus located at 8798 U.S. Route 165 in Oberlin, Louisiana for $1,332,470.
The newly constructed 10,640 square foot net lease Dollar General Plus property is strategically located along U.S. Route 165, the primary thoroughfare in the parish. Dollar General Plus serves as a primary convenience shopping destination for residents in the area with limited competition. The subject property is located within close proximity to multiple residential communities, local businesses and schools. The Dollar General Plus is a relocation and expansion of an existing store in the area showing their commitment to the community. Dollar General Plus locations are larger than traditional Dollar General stores that have more coolers/freezers to keep more perishable items in stock.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a local Louisiana based developer. The purchaser was a Louisiana based investment group.
The Dollar General lease has 14 years remaining and expires August 2031. The absolute triple net lease features no landlord responsibilities and 10% rental escalations in each of the three 5-year renewal option periods. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. Dollar General operated more than 13,350 stores in 43 states.
“The market for new construction net leased dollar stores remains active as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “New construction properties with long term leases to investment grade tenants are at the most sought after net lease product”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
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