The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Dollar General Plus located at 8798 U.S. Route 165 in Oberlin, Louisiana for $1,332,470.<\/p>\n
The newly constructed 10,640 square foot net lease Dollar General Plus property is strategically located along U.S. Route 165, the primary thoroughfare in the parish. Dollar General Plus serves as a primary convenience shopping destination for residents in the area with limited competition.\u00a0 The subject property is located within close proximity to multiple residential communities, local businesses and schools. The Dollar General Plus is a relocation and expansion of an existing store in the area showing their commitment to the community. Dollar General Plus locations are larger than traditional Dollar General stores that have more coolers\/freezers to keep more perishable items in stock.<\/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 a Louisiana based investment group.<\/p>\n
The Dollar General lease has 14 years remaining and expires August 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 13,350 stores in 43 states.<\/p>\n
\u201cThe market for new construction net leased dollar stores remains active as these assets are in high demand among private investors.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cNew construction properties with long term leases to investment grade tenants are at the most sought after net lease product\u201d<\/p>\n