The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Mississippi Dollar General located at 403 South Archusa Avenue in Quitman, Mississippi for $1,550,000.<\/p>\n
The 12,596 square foot property is strategically located along South Archusa Avenue, the primary north-south thoroughfare in the community. Dollar General serves as a primary 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 store is located near H.C. Watkins Memorial Hospital, McDonald\u2019s, Hardee\u2019s, Advance Auto Parts, Pizza Hut and Napa Auto Parts.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction a commercial real estate investment firm based in the southwest.\u00a0 The buyer was a private west coast investor in a 1031 exchange.<\/p>\n
The Dollar General was built in 2013 and has nine years remaining on the lease which expires June 30, 2028. The lease features a rental escalations in year 11 and in each of the five 5-year renewal option periods. The lease is also absolute triple net and has zero landlord responsibilities. The property is a relocation site for Dollar General, which demonstrates their commitment to this market.<\/p>\n
\u201cProperties 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 net leased dollar stores remains active as they offer a stable investment at attractive yields.\u201d<\/p>\n