The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General located at 4904 US-17 92 W in Haines City, Florida for $2,585,372.
The 9,100 square foot property was constructed in 2020 and is strategically positioned on US-17 92 W, which has a traffic count exceeding 20,000 VPD. Additionally, the property benefits from its location within 60 miles of Tampa, Orlando, and Lakeland. Dollar General is adjacent to the brand-new Polk County Northeast Government Center and the Polk County DMV. It is also located across the street from the Sweetwater Retirement Community, which contains over 460 homes. There are over 175,000 people living within ten miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller is a Florida based partnership and the buyer is a private 1031 exchange investor from Florida.
There are over eleven years remaining on the Dollar General absolute net lease. The lease features 10% rental escalations in each of the four 5-year renewal option periods. Dollar General is an investment-grade rated company with a Standard & Poor’s rating of BBB. Dollar General operates nearly 20,000 stores in 48 states.
“Properties with long-term leases to investment grade tenants in income tax-free states remain the most desirable net lease product,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The market for recently constructed net leased dollar stores remains active as they offer a stable investment at attractive yields.”
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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
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Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html