The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction triple net leased Dollar General located at 9443 Highway 1 in Natchez, Louisiana for $1,484,000.<\/p>\n
The 9,014 square foot triple net leased Dollar General building is strategically located along Louisiana Highway 1 which is the primary north-south thoroughfare in the trade area. The property is located approximately forty miles north of Alexandria.<\/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 southern based private investor.<\/p>\n
The Dollar General was constructed in 2015. There are fourteen years remaining on the Dollar General lease which expires on May 31, 2030. The lease features 10% rental escalations in each of the three 5-year renewal option periods. This absolute triple net lease features no landlord responsibilities. Dollar General is an investment grade rated company with a Standard & Poor\u2019s rating of BBB. As of March 23, 2016, Dollar General operated 12,483 stores located 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 with rental escalations are the most sought after net lease product.\u201d<\/p>\n