The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General located at 405 Broadway Avenue in South Roxana, Illinois for $588,000.\u00a0 South Roxana is part of the St. Louis Metropolitan Statistical Area.<\/p>\n
The 8,125 square foot Dollar General building is strategically located at the corner of Broadway Avenue and Illinois Route 111 (Central Avenue), the two primary thoroughfares in the area. The property is positioned in an area that is rapidly being developed into a national transportation hub due to its central location in the Midwest and the confluence of several major interstate highways nearby. The property is in an area consisting primarily of oil industry professionals. The Wood River Refinery, positioned immediately to the north in Roxana, is one of the region\u2019s largest oil refineries employing more than 1,100 people and recently underwent a $2 billion expansion. Dollar General has operated at the location since 2003 and has an established customer base.<\/p>\n
Randy Blankstein and Asher Wenig of The Boulder Group represented the seller and purchaser in the transaction.\u00a0 The seller was a Midwest-based private investor.\u00a0 The purchaser was a charitable trust based in the Mountain West.<\/p>\n
There are over six years remaining on the Dollar General lease which expires on November 30, 2023. The lease features two 5-year renewal option periods with 15% increases. This is a proven location for Dollar General as evident by their execution of the first two renewal options and recent store remodel. Dollar General is an investment grade rated company with a Standard & Poor\u2019s rating of BBB. As of August 2017, Dollar General operated 14,000 stores in 44 states.<\/p>\n