Olcott, NY Tim Bulman and Greg Feroli of District Real Estate Advisors completed the sale of a 2020 upgraded construction Dollar General for $1.621 million, representing the seller, Olcott BTS Retail, LLC, in the transaction. Ryan Wilmer of Marcus & Millichap represented the buyer, Szeto Trust. The purchase was a part of a 1031 exchange requirement. There were multiple offers generated by the District team and the property went over asking price on a quick contract to close timeline.
The Dollar General is located at 5970 East Lake Rd. and was all new upgraded construction strategically positioned at the corner of the area’s primary retail corridor at a signalized intersection. Dollar General occupies 7,545 s/f on 1.35 acres and has an initial 15 year base term with five five year options.