The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General Market located at 635 W Jackson Street in Mulberry, Indiana for $2,297,000.<\/p>\n
The 12,687 square-foot building benefits from its position along State Road 38 (West Jackson St). The asset is located less than 13 miles southeast of Lafayette and 50 miles northwest of downtown Indianapolis. The Dollar General property will also benefit from the large population of 49,900 people that live within ten-mile radius. Additionally, the average household income within five miles is $102,306. The property will also benefit from limited competition in the area as the nearest dollar store is 7 miles away.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based developer, and the buyer was in a 1031 exchange and familiar with the area.<\/p>\n
There are fifteen years remaining on the Dollar General lease. The lease features 5% rental escalations every five years throughout the primary term and renewal options. 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 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","protected":false},"excerpt":{"rendered":"
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General Market located at 635 W Jackson Street in Mulberry, Indiana for $2,297,000. The 12,687 square-foot building benefits from its position along State Road 38 (West Jackson St). The asset is located less than 13 miles southeast of […]<\/p>\n","protected":false},"author":3,"featured_media":2905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[388],"tags":[],"class_list":["post-2904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-net-lease-sold"],"yoast_head":"\n