Greenberg of ERG brokers $1.03 million sale of single-tenant Dollar Tree

ERG Property Advisors arranged the sale of a single-tenant Dollar Tree at 711 East 38th St. The property sold for $1.03 million at a cap-rate of 9.1%. The discount store chain tenant, Dollar Tree, Inc. has a net-lease with 4.5 years remaining for a 12,544 s/f building on a 1.32 acre lot. The property is located at a highly traveled intersection with a traffic count of 37,290 vehicles daily. Andrew Greenberg, senior director of the national retail division at ERG exclusively brokered this transaction.