The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Dollar General located at 2810 Portage Street and Kalamazoo, Michigan for $950,000.
The 9,014 square foot property is strategically located off of Portage Street (20,500 VPD), which is a primary north/south thoroughfare connecting to downtown Kalamazoo. Tenants in the area include O’Reilly Auto Parts, Dairy Queen, Rite Aid, AutoZone, and several others. There are 149,235 people living within five miles of the property earning an average annual household income of $64,828. Dollar General is three miles from Western Michigan University with 16,500+ students.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller who was a Midwest based private real estate investor. The buyer was real estate investor based on the West Coast.
This Dollar General property has over 4 years remaining on the primary lease term. There are three 5 -year renewal option periods with rental escalations at the start of each. Dollar General offers both name-brand and generic merchandise including off-brand goods and closeouts of name-brand items. Dollar General is an investment grade rated company (S&P: BBB). Dollar General is publicly traded on the New York Stock Exchange. Dollar General operates more than 15,000 stores across 45 states.
“Investor confidence is inspired by Dollar General properties with long operating histories and executed renewal options,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net leased Dollar General properties remains most active amongst the dollar store brands.”
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 2012-2021, 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.
More info: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States