The Boulder Group Arranges Sale of New Construction Net Leased Dollar General in Farwell, Michigan

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Dollar General property located at 2960 West Coleman Road in Farwell, Michigan for $1,987,000. The Dollar
The Dollar General property at 2960 West Coleman Road in Farwell, Michigan is situated at the northeast corner of North Winn Road and West Coleman Road in Clare County. The 10,566-square-foot building sits on a 2.07-acre lot and was completed as new construction in 2025. This Dollar General location is the only dollar store within a 10-mile radius of Farwell, Michigan, giving it a significant competitive advantage in the trade area. The property is located less than 18 miles northwest of Mount Pleasant, Michigan, home to Central Michigan University, which has an enrollment of approximately 15,000 students. The population within 10 miles of the property exceeds 23,000 residents. The average household income within 10 miles is approximately $79,616. Within five miles, the median household income is approximately $63,087. Farwell is the county seat of Clare County, Michigan, and was historically established as a regional hub at the convergence of a state road and railroad. The property benefits from its position as the primary discount retail option for rural communities throughout the surrounding area of Clare County.

Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a Midwest-based developer. The buyer was a local investor who acquired the property as part of a 1031 exchange.

The Dollar General lease at 2960 West Coleman Road in Farwell, Michigan is absolute triple net, presenting zero landlord responsibilities. The lease commenced on July 17, 2025 and expires on July 16, 2040, providing approximately 14 years of remaining lease term. The lease features 5% rental escalations every five years throughout the primary term. Dollar General holds five 5-year renewal options, extending the potential lease commitment to approximately 39 years. The net operating income at the time of sale was $138,503. Dollar General carries an investment-grade credit rating.

Dollar General Corporation is headquartered in Goodlettsville, Tennessee and is one of the largest discount retailers in the United States. Founded in 1939, the company has grown to operate more than 20,000 store locations across 48 states and Mexico. Dollar General serves millions of customers annually by providing affordable household essentials, food and snack items, health and beauty products, apparel, and seasonal merchandise. The company reported net sales of approximately $40.6 billion in its most recent fiscal year, reflecting a 5% year-over-year increase. Dollar General plans to open 575 new stores and remodel approximately 2,000 existing locations in 2025, demonstrating the company's continued commitment to expanding its nationwide footprint. Dollar General carries an investment-grade credit rating.

"New construction Dollar General properties with long-term leases and investment-grade credit continue to attract strong investor demand in the net lease market," said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, "This property's position as the only dollar store within a 10-mile radius, combined with its proximity to Central Michigan University, made it a highly competitive offering that generated significant buyer interest." John Feeney, Senior Vice President of The Boulder Group, noted, "The buyer was able to complete a 1031 exchange into a new construction asset with an absolute triple net lease, zero landlord responsibilities, and built-in rent growth through 5% escalations, making it an ideal passive investment."

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 $11 billion of single tenant net lease real estate transactions. From 2013-2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.

www.bouldergroup.com [https://www.bouldergroup.com/]

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