The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Dollar General located at 2828 Central Avenue in Lake Station, Indiana for $1,062,000.
The 9,014 square foot property is strategically located just off of Interstate 94 (83,700 VPD), which connects Lake Station to Chicago. The property is ideally positioned along a primary east-west thoroughfare and near retailers including Chase, Walgreens, Burger King and Dunkin Donuts. This property boasts rare high populations for a dollar general site with approximately 50,000 people living within three miles and over 100,000 people living within five miles of the site. Additionally, the property is located in close proximity to Edison Junior Senior High School (622 students) which drives continual traffic to the corridor.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based private investor and the buyer was a Texas based real estate investor.
This lease has 4 years remaining in the primary term. There are also four 5-year renewal option periods with 10% rental escalations at the start of each. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. Dollar General operates more than 12,500 stores in 43 states.
“Dollar Store properties with long operating histories and rental escalations are highly sought-after net lease assets,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net leased dollar stores located in high demographic remain most active.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2019, 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
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States