New Construction Dollar Tree Sold Date March 26, 2026
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased new construction Dollar Tree discount variety store located at 628 Palms Avenue (US Highway 41) in Ishpeming, Michigan for $1,851,000.
The 10,000-square-foot new construction Dollar Tree is situated on 1.45 acres along Palms Avenue/US Highway 41, the city’s primary thoroughfare with over 19,000 vehicles per day. The property features an upgraded prototype with decorative façade and a 20-year roof warranty. The store is positioned within Ishpeming’s main retail corridor alongside McDonald’s, Taco Bell, Circle K, Family Dollar, Pizza Hut, Flagstar Bank, Jubilee Foods, Ace Hardware, and UP Health System Bell Hospital. Ishpeming is located within Marquette County, the most populated county in Michigan’s Upper Peninsula, and is 15 miles west of Marquette, the county seat. Marquette Sawyer Regional Airport is located 22 miles southeast and provides daily flights to Chicago, Detroit, and Minneapolis. The population exceeds 15,000 within a five-mile radius, with an average household income of $83,712.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented both parties in the transaction. The seller was a Midwest-based developer, and the buyer was a Midwest-based institutional investor.
The Dollar Tree operates under a double-net lease with a 10-year base term through August 2035, with the landlord responsible for foundation, roof, structure, and parking area repair and replacement. The lease includes four 5-year renewal options with rental escalations at the start of each option period. Dollar Tree is an investment-grade rated tenant that operates more than 16,000 stores across 48 states and five Canadian provinces. Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree specializes in offering a broad selection of everyday essentials and generates annual revenue exceeding $30 billion.
“New construction net leased properties with investment-grade tenants continue to garner significant interest from both private and institutional investors seeking passive, long-term income,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Dollar Tree’s position along the busiest corridor in Ishpeming, combined with the upgraded prototype design and strong surrounding retail co-tenancy, made this an attractive acquisition for the buyer.” John Feeney, Senior Vice President of The Boulder Group, noted, “The market for net leased discount variety stores remains active as they offer a stable, recession-resistant investment at attractive yields backed by investment-grade credit.”
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 $11 billion of single tenant net lease real estate transactions. From 2013-2025, 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 and has an office in Denver.
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