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| Dollar General stores sold in Livelland, TX and Lubbock, TX |
DALLAS, TX -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has arranged the sale of two single-tenant Dollar General stores located at 111 College Avenue in Levelland, Texas and 1815 Milwaukee Avenue in Lubbock, Texas.
Combined, the properties totaled more than 18,000 square feet. In both transactions, Chris Adams of Stan Johnson Company represented the seller, a private investor based in Dubuque, Iowa.
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| Chris Adams |
A private investor from Texas purchased the Levelland asset at a 6.42 percent cap rate. Sale prices were not disclosed.
“These transactions are two of many examples where we have experienced targeted cap rate compression within the essential retail market,” said Adams, Associate Director in Stan Johnson Company’s Dallas, Texas office.
“Double net Dollar General stores have historically attracted a more limited buyer pool, but the current demand for these assets from all buyer types, particularly in Texas, is very high, and our recent pricing levels have reflected this trend.”
The properties were built in 2005 and 2006, and both feature double net lease structures. At the time of sale, there were approximately seven years of lease term remaining at each site.
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate
Industry"
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