Single Tenant Net Lease Property For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant net lease Dollar General property located in Pitkin, LA. Pitkin is located in central Louisiana approximately fifty miles southwest of Alexandria and sixty miles north of Lake Charles. The Dollar General was constructed in 2016. There are approximately fifteen years remaining on the Dollar General lease which expires on May 31, 2031. The lease features 10% rental escalations in each of the three 5-year renewal option periods. This absolute triple net lease features no landlord responsibilities.

The 9,026 square foot single tenant net lease Dollar General building is strategically located along Highway 10 which is the primary thoroughfare in the trade area. The Dollar General is located approximately fifteen miles south of Fort Polk. Fort Polk is an US Army Installation which encompasses approximately 198,000 acres. Fort Polk is the only Combat Training Center that also trains and deploys combat units. In 2013, there were 10,877 troops stationed at Fort Polk which generated an annual payroll of $980 million.

Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. On October 15, 2015, Standard & Poor’s upgraded Dollar General from BBB- to BBB. Dollar General is publicly traded on the New York Stock Exchange (DG) with a market capitalization in excess of $26 billion. As of March 23, 2016, Dollar General operated 12,483 stores located in 43 states.