The
Boulder Group, a net leased investment brokerage firm, has completed the sale
of a single tenant new construction Dollar General located at 21080 Highway 167
in Dry Prong, Louisiana for $1,326,031.
The
9,014 square foot Dollar General building is strategically located along
Louisiana Highway 167 which is the primary north-south thoroughfare in the
trade area. The property is located approximately ten miles north of
Alexandria. The Alexandria MSA has a population of 155,000 people.
Randy
Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the
transaction; a local Louisiana based developer.
The purchaser was a Southwest private partnership.
The
Dollar General lease has 14 years remaining and expires November 2016. The
absolute triple net lease features no landlord responsibilities and 10% rental
escalations in each of the three 5-year renewal option periods. Dollar General is an investment grade rated
company with a Standard & Poor’s rating of BBB. As of March 23, 2016,
Dollar General operated 12,483 stores located in 43 states.
“New construction properties with long term
leases to investment grade tenants with rental escalations are the most sought
after net lease product” said Randy Blankstein, President of The Boulder
Group. Jimmy Goodman, Partner of The
Boulder Group, added, “The market for new construction net leased dollar stores
remains active as these assets are in high demand among private investors.”
About The Boulder Group
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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
