(Northbrook, IL- June 28, 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 1382 Pitkin Road in Leesville, Louisiana for $1,084,873.
The 9,014 square foot Dollar General building is strategically located along Highway 10 (Pitkin Road) which is the primary north-south thoroughfare in the trade area. The property is located in the immediate proximity to Fort Polk, a United States Army installation with over 10,000 soldiers. Fort Polk is the only Combat Training Center that also trains and deploys combat units. Dollar General serves as a primary convenience shopping destination for residents in the area with limited competition.
The Dollar General was constructed in 2015. There are approximately fourteen years remaining on the Dollar General lease which expires on June 30, 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. Dollar General operated more than 12,500 stores in 43 states.