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| Dollar General Site, 91 Eastview Drive, Laurel, MS |
LAUREL, MS – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of Dollar General, a
9,014-square foot net-leased property located in Laurel, Miss., according to Ari
Ravi, regional manager of the firm’s Tampa office. The asset sold for
$652,000.
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| Daniel Hurd |
Daniel Hurd, an investment
specialist in Marcus & Millichap’s Tampa office, had the exclusive
listing to market the property on behalf of the seller, a private investor.
The buyer, a
private investor, was also secured and represented by Hurd. Elizabeth
Williams, Broker, assisted in closing this transaction.
“The dollar store sector has continued to be white-hot this year.
In an environment where so many other retailers are consolidating, Dollar
General dominates the rural markets where their competitors cannot afford to
operate in," stated Mr. Hurd. "
"We are
selling deals all across the country and there is no sign that things will slow
down anytime soon. My team and I are on pace for a record year and we look
forward to a continued growing market share moving forward,”.
Constructed in 2005, Dollar General is situated on an
approximately 1.70-acre parcel of land. Dollar General has just over three
years remaining on a recent lease extension, which demonstrates their continued
commitment to this location.
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| Elizabeth Williams |
Additionally,
there are four, five-year renewal options with rent increases associated in
each.
Located in Laurel, Miss., Dollar General has traffic counts of
more than 17,000 on U.S. Highway 84 East and 23,000 on I-59. Mississippi has
consistently been a strong producing market for Dollar General with over 1,300
locations statewide. Dollar General is located at 91 Eastview Drive in Laurel,
Miss.
CONTACTS:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
or
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Whitney Davis
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Marketing Coordinator
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