The Boulder Group, a net leased investment brokerage firm, worked on the sale of a single tenant Family Dollar located at 437 Captain Gloster Drive in Gloster, Mississippi, for $805,000.
The 8,087 square foot building is strategically located on 1.37 acre parcel along the trade area’s primary thoroughfare. The property is accessible from both Captain Gloster Drive and Liberty Road.
Family Dollar boasts strong reported store sales at this location which they have operated at since 2011.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a southern based real estate investment group. The purchaser was a Midwest based private investor.
The Family Dollar has roughly six years remaining on their lease which expires on June 30, 2022. The lease features 10% rental escalations in each of the six 5-year renewal option periods.
Family Dollar was acquired by Dollar Tree and is a wholly owned subsidiary of Dollar Tree. Dollar Tree is publicly traded on the NASDAQ. Family Dollar is the second largest dollar store chain in the United States, operating over 8,100 stores across 46 states.
“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net leased dollar stores remains active as these assets are in high demand among private investors.”