Press release
The Boulder Group Arranges Sale of New Construction Dollar General Market Property in St. Louis MSA
The Boulder Group has completed the sale of a single tenant brand-new construction Dollar General Market property located at 1320 West Main Street in Mascoutah, IL for $2,396,000. The property sold shortly following rent commencement and the store's opening. Zach Wright and Brandon Wright, of The Boulder Group, exclusively represented the seller and purchaser in the transaction. The purchaser was an all-cash investor based in Southern California and the seller was a Midwest-based real estate development company.
The brand-new construction Dollar General Market property is located approximately 30 miles east of downtown St. Louis. The surrounding area is extremely affluent with average annual household income of approximately $120,000 within three miles of the property. The Dollar General Market is approximately five miles south of Scott Air Force Base (13,000+ employees) and six miles south of MidAmerica St. Louis Airport (commercial airport with 324,000+ annual passengers). Boeing recently completed a $200 million and 300,000 square foot drone manufacturing plant in Mascoutah.
The 15-year Dollar General lease features rental increases every five years and no landlord responsibilities. Dollar General is an investment grade rated company with a Standard & Poor's rating of BBB.
"Well-located new construction Dollar Generals remain highly sought after amongst private investors. Asking cap rates for these properties are at a 10-year high, providing purchasers with an enticing opportunity to acquire long-term investments with an attractive basis," stated Zach Wright, Vice President.
"Dollar General has one of the most landlord-friendly leases in the net lease world. Their new leases are for 15 years and have rental increases every five years with no landlord responsibilities," added Brandon Wright, Associate.
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 2013-2024, 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.
For additional information, please visit www.BoulderGroup.com [http://www.bouldergroup.com/]
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-boulder-group-arranges-sale-of-new-construction-dollar-general-market-property-in-st-louis-msa]
Phone: 720-604-2220
Address:1805 S Bellaire Street, Suite 355
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
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