(Northbrook, IL- May 17, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General located at 7180 Highway 165 in Columbia, Louisiana for $1,295,000.
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The 10,640 square foot Dollar General store was constructed in 2016 and is a relocation of a previously successful store. The Dollar General is strategically located along Highway 165 which is the primary north-south thoroughfare in the trade area. The Dollar General is positioned approximately one and one-half miles south of the Caldwell Memorial Hospital. There are a number of national retailers located in the immediate trade area including McDonald’s, Sonic Drive-In, Mobil, Brookshire Grocery and Family Dollar to name a few.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a local Louisiana based developer. The purchaser was a southern based private partnership.
The Dollar General lease has 14 years remaining and expires July 2031. 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. Dollar General operated more than 12,500 stores 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 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
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