Friday, September 21, 2018

Marcus & Millichap Arranges $652,000 Sale of 9,014-SF, Net-Leased Dollar General Site in Laurel, MS



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.

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.

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
Whitney Davis
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4743 direct





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