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.<\/p>\n
The newly constructed\u00a0 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.\u00a0 The subject property is located within close proximity to multiple residential communities, local businesses and schools.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction; a Midwest based investor in a 1031 exchange.\u00a0 The seller was a Midwest based developer.<\/p>\n
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\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. \u00a0John Feeney, Senior Vice President of The Boulder Group, added, \u201cThe market for new construction net leased dollar stores remains active as they offer a stable investment at attractive yields.\u201d<\/p>\n