Northbrook, IL – April, 25 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Family Dollar located at 3211 Old McDuffie Road in Augusta, GA for $1,490,000.
The newly constructed Family Dollar is located at the signalized intersection of Old McDuffie Road and Barton Chapel Road. There are approximately 50,000 people living within a three mile radius of the property. The property is located approximately seven miles south of the Augusta National Golf Club.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a Midwest based individual in a 1031 Exchange. The seller was a Southeast based real estate development company.
The new Family Dollar lease is for fifteen years and expires September 30, 2031. The absolute triple net lease features no landlord responsibilities and a 10% rental escalation in the primary term. The lease features 10% rental escalation in each of the six 5-year renewal option periods. Family Dollar Stores, Inc. is the second largest dollar store chain in the United States, operating 8,100 stores across 46 states.
“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand” 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 $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
Media Contact: Randy Blankstein
The Boulder Group