The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Dollar General located at 4531 Lansing Rd in Bancroft, Michigan for $1,325,000.
The recently constructed 9,100 square foot property is strategically located just off Interstate 69 (23,300 VPD), which connects Bancroft to Lansing and Flint. Additionally, the property is ideally located at the hard corner of a signalized intersection. Dollar General serves as a primary convenience shopping destination for residents in the area with limited competition. Bancroft is located approximately twenty-five miles east of Michigan State University (38,851 students). There are over 51,000 people living within ten miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based developer and the buyer was a private investor from Michigan.
There are fifteen years remaining on the Dollar General 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 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 $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