Net Leased Dollar General Date November 4, 2016
The Boulder Group is pleased to exclusively market for sale a single tenant, new construction, net leased Dollar General property located in Avoca, IA. Avoca is located less than forty miles east of the Omaha-Council Bluffs MSA. The 9,014 square foot net leased Dollar General is strategically located along the trade area’s primary north-south thoroughfare less than one mile south of Interstate 80. The Dollar General was constructed in 2015. There are over fourteen years remaining on the Dollar General lease which expires on October 31, 2030. 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.
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 $23 billion. As of March 23, 2016, Dollar General operated 12,483 stores located in 43 states.
- Investment grade rated tenant (S&P: BBB)
- Long term lease with over 14 years remaining
- 10% rental escalations in each renewal option period
- Absolute triple net lease with no landlord responsibilities
- New construction (2015)
- Positioned less than one mile south of Interstate 80
- Located along Walnut Street (Route 59) which is the primary north-south thoroughfare in the trade area
- Concrete parking lot