The Boulder Group Arranges Sale of New Construction Dollar General Market Property in St. Louis MSA

The Boulder Group has completed the sale of a single tenant brand-new construction Dollar General Market property located at 1320 West Main Street in Mascoutah, IL for $2,396,000. The property sold shortly following rent commencement and the store’s opening. Zach Wright and Brandon Wright, of The Boulder Group, exclusively represented the seller and purchaser in the transaction. The purchaser was an all-cash investor based in Southern California and the seller was a Midwest-based real estate development company.

The brand-new construction Dollar General Market property is located approximately 30 miles east of downtown St. Louis. The surrounding area is extremely affluent with average annual household income of approximately $120,000 within three miles of the property. The Dollar General Market is approximately five miles south of Scott Air Force Base (13,000+ employees) and six miles south of MidAmerica St. Louis Airport (commercial airport with 324,000+ annual passengers). Boeing recently completed a $200 million and 300,000 square foot drone manufacturing plant in Mascoutah.

The 15-year Dollar General lease features rental increases every five years and no landlord responsibilities. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB.

“Well-located new construction Dollar Generals remain highly sought after amongst private investors. Asking cap rates for these properties are at a 10-year high, providing purchasers with an enticing opportunity to acquire long-term investments with an attractive basis,” stated Zach Wright, Vice President.

“Dollar General has one of the most landlord-friendly leases in the net lease world. Their new leases are for 15 years and have rental increases every five years with no landlord responsibilities,” added Brandon Wright, Associate.

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