Brand New Triple Net Dollar General Store Trades Hands

A Dollar General in the Atlanta suburb of Calhoun, GA has traded hands.

ATLANTA—A Dollar General in the Atlanta suburb of Calhoun, GA has traded hands. The 9,026-square-foot store is newly constructed. Dollar General has been in business since 1939. Crossman & Company represented the seller Hibbymo Properties-East Calhoun , which developed the net lease asset. Crossman COO John Zielinski director Brian Carolan , along with senior associate Sherri Mann brokered the triple net transaction. “ Triple-nets , also known as NNN or net-net-net properties, are appealing to buyers looking for income with little management responsibility,” Zielinski tells GlobeSt.com. “The advantages have fueled a tremendous demand and interest from investors on every level. As with any investment, there are many factors to consider in valuing and structuring the deal.” Crossman has a reputation for handling triple net deals, which are still regarded as one of the safest and the most solid commercial real estate investments with dependable revenue. The Dollar General is a free standing retail building on two acres at 112 Campbell Road. “We are finding that Investors buy net leased single tenant properties for a variety of reasons such as stable cash flow, attractive financing, equity growth, unique tax benefits and good capital gains,” Carolan tells GlobeSt.com. An Atlanta-based private investment group acquired the net lease asset. Franklin Street director Jonathan Graber and investment associate Joe Morrow , who specialize in retail properties throughout West and Central Florida, recently represented the seller of two Arby’s properties, a Georgia-based Arby’s franchisee. The properties were purchased as part of 1031 tax exchanges. Both deals included a brand new 20-year triple net lease signed by the seller. “In today’s market, single-tenant assets are highly sought after—especially with a limited supply of such assets available for sale,” says Graber. “This allows sellers to push the envelope on what pricing they believe the market will command. The retail investment sector is particularly advantageous to both buyers and sellers, compared with other sectors that are so volatile.” Did you know the sale leaseback trend is rising in net lease? Check out my recent column .