(Northbrook, IL- October 3, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General located at 405 Broadway Avenue in South Roxana, Illinois for $588,000. South Roxana is part of the St. Louis Metropolitan Statistical Area.
The 8,125 square foot Dollar General building is strategically located at the corner of Broadway Avenue and Illinois Route 111 (Central Avenue), the two primary thoroughfares in the area. The property is positioned in an area that is rapidly being developed into a national transportation hub due to its central location in the Midwest and the confluence of several major interstate highways nearby. The property is in an area consisting primarily of oil industry professionals. The Wood River Refinery, positioned immediately to the north in Roxana, is one of the region’s largest oil refineries employing more than 1,100 people and recently underwent a $2 billion expansion. Dollar General has operated at the location since 2003 and has an established customer base.
Randy Blankstein and Asher Wenig of The Boulder Group represented the seller and purchaser in the transaction. The seller was a Midwest-based private investor. The purchaser was a charitable trust based in the Mountain West.
There are over six years remaining on the Dollar General lease which expires on November 30, 2023. The lease features two 5-year renewal option periods with 15% increases. This is a proven location for Dollar General as evident by their execution of the first two renewal options and recent store remodel. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. As of August 2017, Dollar General operated 14,000 stores in 44 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. Asher Wenig, Vice President of The Boulder Group, added, “The market for 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