Marcus & Millichap Arranges $1 Million Sale of Dollar General Site in Lane, OK

Dollar General, 11378 East Highway 3, Lane, OK

Daniel Hurd

LANE, OK – 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 - Lane, a 9,014-square foot net-leased property located in Lane, OK, according to Chris Travis, sales manager of the firm’s Tampa office.

The asset sold for $1,055,280.

Daniel Hurd, a senior investment advisor in Marcus & Millichap’s Tampa office, secured and represented the buyer, a private investor.

 Broker, Mark McCoy, assisted in closing this transaction.

Mark R. McCoy

“There is no sign of slowing for Dollar General stores nationwide, even as nearly 1,000 new stores are being built this year alone,” said Mr. Hurd.

 “I was able to negotiate a 7.25 capitalization rate for my client on this deal.

"That is nearly a double-digit annual cash-on-cash return for a 13-year NNN lease! 

"Timing was on our side for this transaction as the Federal Reserve decided to lower rates while we were under contract to purchase this deal.

"We navigated from signing a contract to closing in just 35 days, which is pretty impressive given the fact that financing and third-party reports were involved,” added Hurd.  

Dollar General - Lane is located at 11378 East Highway 3 in Lane, OK.  Dollar General has a 15-year triple net lease which commenced in 2017. This favorable lease structure allows for passive income and no landlord responsibilities.

CONTACT:

Whitney Davis 

Whitney.Davis@marcusmillichap.com