Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, completed the sale of 6 Dollar General stores to close out 2016. The stores were located in various locations in Pennsylvania, Ohio, Georgia, Massachusetts and Virginia. All properties were similar in size, approximately 9,000 square feet and are 100% leased to Dollar General Corporation. The stores sold at an average cap rate of 6.57%, right in line with the 6.60% average cap rate for Dollar Generals sold in 2016 according to Calkain research. Calkain represented different sellers and buyers on the transactions.
Dollar General properties continue to be attractive net lease investments because of their investment-grade corporate credit, rated BBB by S&P, long-term lease structure, and the attractive price point that appeals to a broad spectrum of buyers,” commented Fallon.
“According to our research team, the average sales price for a Dollar General with 10+ years remaining on their lease in 2016 was $1,464,922. That’s a perfect price point for private equity investors.”
As interest from private equity investors remains strong, Calkain has been hired to represent the seller of 6 new Dollar General stores, to be sold as a portfolio or as individual assets. With the price range of $1.3M – $1.8M, all stores are NNN lease terms with 13+ years remaining on their lease. For more information on these assets, contact Andrew Fallon at firstname.lastname@example.org or (703) 787-4733.
Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at calkain.com.