Northbrook, IL- November 29, 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 9443 Highway 1 in Natchez, Louisiana for $1,484,000.
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The 9,014 square foot Dollar General building is strategically located along Louisiana Highway 1 which is the primary north-south thoroughfare in the trade area. The property is located approximately forty miles north of Alexandria.
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 investor.
The Dollar General was constructed in 2015. There are fourteen years remaining on the Dollar General lease which expires on May 31, 2030. The lease features 10% rental escalations in each of the three 5-year renewal option periods. This absolute triple net lease features no landlord responsibilities. 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.
“The market for new construction net leased dollar stores remains active as these assets are in high demand among private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “New construction properties with long term leases to investment grade tenants with rental escalations are the most sought after net lease product.”
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
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