Net Lease Wisconsin Dollar General Sale Arranged Date July 3, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General located at 1619 Academy Street in Elroy, Wisconsin for $1,070,197.
The newly constructed Wisconsin Dollar General property is strategically located along the primary thoroughfare in the parish. Dollar General 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.
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction; a Midwest based investor in a 1031 exchange. The seller was a Midwest based developer.
There are fifteen years remaining on the Dollar General lease. The lease features 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 12,500 stores in 43 states.
“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “The market for new construction net leased dollar stores remains active as they offer a stable investment at attractive yields.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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.comBack