The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General located at 555 Meeker Ave W in Eden Valley, Minnesota for $1,224,414.
The newly constructed 9,100 square foot property is strategically located along State Highway 55, the primary thoroughfare in the parish. Dollar General serves as a primary convenience shopping destination for residents in the area with limited competition. The subject property is located within close proximity to multiple residential communities, local businesses and schools. Eden Valley is located approximately thirty miles south of St. Cloud and is part of the St. Cloud MSA. The average household income is $72,097 within ten miles of the property.
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 fifteen 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. 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. John Feeney, Senior Vice President 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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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