The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General Market located at 3451 West 37th Avenue in Hobart, Indiana for $2,139,318.
The newly constructed building is the larger and highly coveted 12,480 SF prototype. The Dollar General Market lease is NNN and has 15 years remaining. The lease features 5% rental escalations every five years throughout the primary term and at all five of the 5-year renewal options.
The property has a desirable location along West 37th Avenue (19,800 VPD), just ½ mile east of I-65 (110,033 VPD) and less than 2 miles from I-94 (169,885 VPD). Nearly 123,000 people live within a 5-mile radius of the property, and the average household income exceeds $67,000 within 5 miles. The property is located within the Chicago MSA, less than 40 miles from downtown Chicago. The property will benefit from limited grocery store and convenience store competition in the surrounding area.
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 is an Indiana-based individual.
Dollar General is an investment-grade rated company with a Standard & Poor’s rating of BBB. The company was founded in 1939 and is headquartered in Goodlettsville, Tennessee. Dollar General is ranked #111 on the 2024 Fortune 500 list. Dollar General has over 193,000 employees and operates more than 20,000 stores in 48 states as of August 2024.
“New construction properties with long-term leases to investment-grade tenants in large metro areas 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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
