FRANKLINVILLE, NJ–CBRE says it has brokered the sale of a net-leased Dollar General store here to an out-of-state investor who offered an “aggressive” capitalization rate deal. The sale price was not disclosed.
The 9,200-square-foot property at 2378 Delsea Drive was built last year and leased to Dollar General for a 10-year term with two five-year option periods. With a corporate guarantee from the tenant, the net-net lease includes a 10% increase in rent at the beginning of each option period.
Dollar General, a publicly traded company, was recently upgraded to investment grade credit by Standard & Poor's and added to the S&P 500.
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