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SRS Arranges Deal for PA Dollar General Portfolio
SRS Real Estate Partners’ National Net Lease Group arranged the $36-million portfolio sale of 26 single-tenant retail properties occupied by Dollar General. The stores are located in key suburban areas throughout Pennsylvania.
The firm’s Andrew Fallon represented the seller, Tennessee-based GBT Realty Corporation, who developed the properties over the past two years. The buyer was a Virginia-based, private investment group completing a 1031 exchange.
Averaging a consideration of $1.4 million per location, each freestanding store features approximately 9,000 square feet of space. The leases all have between 12 and 13 years remaining, with rent increases in each option period.
“Discount retail continues to thrive as Dollar General, and its peers, open more stores each year,” said Fallon. “For the net lease investor, these assets provide an attractive combination of credit, lease term, and passive ownership, making Dollar stores some of the most actively traded net lease properties on the market.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
