Press Release

Calkain’s Fallon Sells Dollar General Portfolio

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, has recently completed the sale of a Dollar General portfolio located in Nebraska.  The three property portfolio comprises approximately 27,128+/- square feet, or 9,042 square feet per building, and is 100% leased to Dollar General. All three locations were new build-to-suit prototype stores,and two of the sites were relocations of previously existing, successful Dollar General stores. All locations have long term 15 year triple net leases guaranteed by Dollar General Corporation. The price and cap rate are confidential.

Andrew Fallon commented,

This was a private high net worth buyer who has acquired, and now owns 30 Dollar General locations around the country. With respectable sales records and a corporate expansion strategy in a growing market, Dollar General is an attractive net lease investment.”

Fallon continued, “In today’s retail market, net lease assets are highly sought after and are trading at premium cap rates because they offer a stable cash flow, attractive financing and security.”  In a recent Wall Street Journal article dated August 26, 2016, the author commented, “Dollar stores have been a relative bright spot in a troubled retail sector as recession weary shoppers flocked to their low prices and convenient locations near residential areas.” Fallon offered his own opinion related to this portfolio sale, “In this case, the investor was interested in tertiary market locations with limited competition, in order to achieve a slightly higher yield, when compared to primary market net lease properties and other dollar stores in the Mid-Atlantic and Florida regions.” Fallon expects to see continued growth and transaction volume in the dollar store sector, in line with Dollar Generals growth strategy of adding an additional 7,000 locations by 2020.

Fallon, located in Calkain’s Virginia headquarters, has other net lease investment opportunities including dollar stores, convenience stores, and other national retail single-tenants, available. Please contact afallon@calkain.com directly for more information on this portfolio sale and others.

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Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research.  Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at www.calkain.com.

Traci BidingerCalkain’s Fallon Sells Dollar General Portfolio

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