Northbrook, IL – October 26, 2016 – (RealEstateRama) — 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.
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.