The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 4180 University Parkway in Natchitoches, LA for $1,362,000.
The 9,014 square foot Dollar General building is strategically located along University Parkway which experiences traffic counts in excess of 16,000 vehicles per day. University Parkway is the primary east-west thoroughfare in the trade area and connects Natchitoches to Interstate 49 to the west. Retailers located in the immediate area include McDonald’s, Burger King, Popeyes, Wendy’s, RaceWay, MidSouth Bank, Brookshires, Hampton Inn, Holiday Inn Express, Comfort Suites and Fairfield Inn & Suites.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Dollar Store developer. The purchaser was a private investor in a 1031 Exchange based on the West Coast.
The Dollar General lease has over 13 years remaining and expires on October 31, 2029. The absolute triple net lease features no landlord responsibilities and three 5-year renewal option periods. The lease features a 3% rental escalation in Year 11 and a 10% rental escalation in each renewal option period. 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.
“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. Jimmy Goodman, Partner of The Boulder Group, added, “The market for new construction 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 $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.
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States