MEMPHIS-Escondido, CA-based Realty Income Corp. has acquired 12 Dollar General stores in Memphis and another in nearby Cordova for a purchase price of more than $15.3 million.
The deal brings Realty Income’s retail portfolio in Shelby County to 43 properties, according to the Memphis Business Journal.
Realty Income Corp. affiliate Realty Income Properties 30 LLC, purchased the properties in separate transactions from Retail Property Investments LLC, an entity affiliated with Goodlettsville, TN-based Dollar General according to Shelby County Register of Deeds records.
The REIT recently acquired a Walgreens location in Frayser, TN for $2.2 million, and in 2012 paid approximately $28 million for a Sam’s Club on Covington Pike in Memphis. See story in the Memphis Business Journal.