The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant new construction Dollar General located at 6292 US Route 77 in Riviera,
Texas for $1,260,000.
The 9,026 square
foot Dollar General is strategically located along US Route 77 which is the
area’s primary north-south thoroughfare. Retailers located in the immediate
area include Burger King, Stripes, Dairy Queen, and Subway.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented both parties in the
transaction. The seller was a southeast based institution and the purchaser was
an Illinois based private investor.
There are 15 years
remaining on the Dollar General lease which expires in May, 2031. The lease
features 10% rental escalations in each of the five 5-year renewal option
periods. This absolute triple net lease features no landlord responsibilities.
Texas is an income tax free state.
Dollar General is an investment grade rated company with a Standard
& Poor’s rating of BBB. As of August 31, 2016, Dollar General operated over
13,000 stores located in 43 states.
“The market for new construction net leased dollar stores
remains active as these assets are in high demand among private investors”
said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group,
added, “New construction properties with long term leases to investment grade
tenants with rental escalations are the most sought after net lease product.”
The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
