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St. Cloud Dollar General Trades to Private Investor
The Boulder Group completed the sale of a single-tenant Dollar General in Eden Valley, MN, within the St. Cloud metro area. The newly-constructed, 9,100-square-foot property sold for $1,224,414.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Southeast-based developer. The buyer was a private investor.
There are approximately 15 years remaining on the Dollar General lease. The lease features 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, and operates more than 12,500 stores in 43 states.
“New construction properties with long-term leases to investment grade tenants with rental escalations are the most sought-after net lease product,” said Blankstein.
Feeney added, “The market for new-construction net-leased dollar stores remains active, as they offer a stable investment at attractive yields.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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