The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 8212 Highway 171 in Grand Cane, Louisiana for $1,168,947.<\/p>\n
The 9,014 square foot triple net leased Dollar General property is strategically located along Louisiana Highway 171 which is the primary north-south thoroughfare in the trade area. The property is located approximately thirty miles south of Shreveport. Shreveport is the third-largest city in the state of Louisiana.<\/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 Southwest private partnership.<\/p>\n
The Dollar General lease has 14 years remaining and expires October 2016. 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 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, Partner of The Boulder Group, added, \u201cThe market for new construction net leased dollar stores remains active as these assets are in high demand among private investors.\u201d<\/p>\n