Net lease press releases
Dollar
General Stores Totaling $2.54MM
Calkain
Companies, a national real estate investment brokerage firm, recently completed
the sale of two (2) net lease investment properties occupied by Dollar General(NYSE: DG.) Both
stores were located in Virginia towns: Madison and Ferrum. The purchaser was a
regional real estate development and management company based in the Northeast.
The two properties were recently developed as part of Dollar General’s
built-to-suit program, and the stores have brand new 15-year triple net leases,
which provide passive income for the new owner.
Calkain’s Andrew Fallon, Associate,
facilitated the transaction, providing exclusive representation to the Seller,
who developed the assets. The dollar store segment remains a bright spot of the
retail industry. Fallon comments, “In order to continue capturing market share,
the dollar store companies, including Dollar General, are relocating to free-standing
stores in existing markets and opening new stores in new markets.” The Madison
and Ferrum stores were both new stores in new markets for Dollar General, and
Calkain’s marketing efforts were met with high demand. Fallon continues, “These
new stores offer real estate investors an opportunity to own hard assets with
bond-like characteristics based on the long-term net leases signed by stable
corporate tenants.” Those characteristics attracted multiple offers for the
assets, and allowed the buyer to utilize favorable financing for the
acquisition.
DollarGeneral Corporation is
the nation’s largest small-box discount retailer, with more than 9,300 stores
and 2010 sales in excess of $13.04 Billion. Dollar General ranks among the
largest retailers of top-quality brands made by America's most-trusted
manufacturers, such as Procter & Gamble, Kimberly Clark, Unilever,
Kellogg's, General Mills and Nabisco.
Calkain
is a full service real estate investment brokerage firm with a national scope
focusing on single and multi tenant retail, industrial, hotel and office
net-leased transactions as well as asset management, tax planning, and advisory
services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL,
Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about
the firm and its listings may be found at www.calkain.com
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