ORLANDO—A Dollar General has fetched $1.63 million in anoff-market transaction. The original developer sold thetriple net leased retail store to an Apollo Beach,FL-based investment company.
The buyer paid all cash in a transaction that represents $180per square foot. The Dollar General is new construction with a new15-year triple net lease.
“The triple net market is very competitive,” BryanBelk, director of Real Estate Services at FranklinStreet, who exclusively represented the seller in thetransaction, tells GlobeSt.com. “Investors are dying for yieldsthat they are not able to achieve in alternative investments andbecause of this competition CAP rates are being driven down tolevels of the top of the market in 06 and 07.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
