The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General Market located at 635 W Jackson Street in Mulberry, Indiana for $2,297,000.
The 12,687 square-foot building benefits from its position along State Road 38 (West Jackson St). The asset is located less than 13 miles southeast of Lafayette and 50 miles northwest of downtown Indianapolis. The Dollar General property will also benefit from the large population of 49,900 people that live within ten-mile radius. Additionally, the average household income within five miles is $102,306. The property will also benefit from limited competition in the area as the nearest dollar store is 7 miles away.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based developer, and the buyer was in a 1031 exchange and familiar with the area.
There are fifteen years remaining on the Dollar General lease. The lease features 5% rental escalations every five years throughout the primary term and renewal options. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. Dollar General operated 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 Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The market for new construction 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.
More info: www.bouldergroup.com
Media Contact
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