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Brokerage
Posted: September 24, 2012
Boulder Group completes $1.473 million sale of 9,026 s/f Dollar General N.C. site
The Boulder Group has completed the sale of a triple net leased Dollar General property located at 218 East Plaza Dr. for $1.473 million. The 9,026 s/f Dollar General was built in 2011.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a southeast based developer. The buyer was a private net leased investment fund and self-represented.
The building is leased to Dollar General on a net lease basis with 14 years of lease term remaining. The property is located across the street from a Big Lots anchored shopping center and other nearby retailers. Dollar General is an investment grade rated company with a Standard & Poor's rating of BBB- and has over 9,300 stores nationwide.
"The market for newly developed triple net leased Dollar Generals is robust as investor demand for long term leased properties priced below two million dollars exceeds the supply." said Randy Blankstein, president of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, "Expect activity for single tenant leased Dollar General properties in prime locations to increase as their Standard and Poor's rating was recently increased to BBB-."
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of more than $1.4 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company's website address is www.bouldergroup.com
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