Marcus & Millichap Arranges $445,000 Sale of 8,050-SF Dollar General Site in Eden, NY

Dollar General, an 8,050-square foot
 net-leased property,
 8229 North Main Street, Eden, NY, 

EDEN, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General, an 8,050-square foot net-leased property in Eden, NY, according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $445,000.

Daniel Hurd

Daniel Hurd, senior investment advisor and Cole Skinner, investment advisor 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 secured and represented by Michael Lombardi, Patrick Gray and Steven Schiavello, investment specialists in Marcus & Millichap’s New Jersey office Broker, Brian Hosey, assisted in closing this transaction.

“We are seeing most investors place an emphasis on long term security right now and with only a few years remaining on the Eden lease term, we had to be very particular about targeting a buyer for this deal," said Hurd.

Cole Skinner

 "Furthermore, Marcus & Millichap’s national platform allowed us to procure a local buyer who was not only comfortable with the shorter lease but also the location.

"We were under contract after only 10 days on market, navigated through a short due diligence period, ultimately closing the deal in approximately 60 days.

"The Seller was pleased to cash out, after owning this asset for many years, and intends to move on to higher yielding investment opportunities in the region,”

Grant Fitzgerald

Dollar General is located at 8229 North Main Street in Eden, NY.  The building consists of 8,050 square feet and has only been occupied by Dollar General since the commencement of the building.

 Dollar General has shown commitment to the location by exercising the option period with the scheduled increase in rent. 

Landlord responsibilities are limited to roof, structure and parking lot and tenant reimburses for Real Estate taxes, insurance and common area maintenance. 

Michael
Lombardi

           The store is positioned on US Route 62 which sees heavy traffic counts and the surrounding area has ideal demographics for Dollar General as the three-mile population exceeds 6,000 people and the one-mile median household income exceeds $71,000.

This location is also surrounded by multiple notable tenants including Tim Horton's, USPS, NAPA Auto Parts, Rite Aid and Dairy Queen.

CONTACTS:

Whitney Davis
Marketing Coordinator
Marcus & Millichap 201 North Franklin St. Suite 1100 Tampa, FL 33602 (813) 387-4700 main (813) 387-4743 direct (813) 387-4710 fax whitney.davis@marcusmillichap.com

www.MarcusMillichap.com.