(Northbrook, IL – May 26, 2017) –- (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 12904 Highway-10 in Pitkin, Louisiana for $1,117,300.
The 9,026 square foot Dollar General building is strategically located along Highway-10 which is the primary thoroughfare in the trade area. The Dollar General is located approximately twelve miles south of Fort Polk. Fort Polk is an US Army Installation which encompasses approximately 198,000 acres. Fort Polk is the only Combat Training Center that also trains and deploys combat units. There are roughly 10,900 troops stationed at Fort Polk which generated an annual payroll of $985 million.
The Dollar General lease has 13 years remaining and expires May 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.