The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction triple net lease Dollar General located at 7220 Highway-465 in Simpson, Louisiana for $950,000.<\/p>\n
The 7,489 square foot triple net lease Dollar General building is strategically located at the Intersection of Louisiana Highway-465 and Louisiana Highway-8. Both of which are the primary thoroughfares in the trade area. Simpson is part of the Fort Polk South Metropolitan Statistical Area which has a population of approximately 90,000 people.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a local Louisiana based developer.\u00a0 The purchaser was an West-coast private partnership.<\/p>\n
The Dollar General lease has 14 years remaining and expires July 2031. The absolute triple net lease features no landlord responsibilities and 10% rental escalations in each of the three 5-year renewal option periods.\u00a0 Dollar General is an investment grade rated company with a Standard & Poor\u2019s rating of BBB. Dollar General operated more than 12,500 stores in 43 states.<\/p>\n
\u201cNew construction properties with long term leases to investment grade tenants with rental escalations are the most sought after net lease product\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cThe market for new construction net leased dollar stores remains active as these assets are in high demand among investors.\u201d<\/p>\n