TUCSON, ARIZONA – A three property portfolio of Dollar General stores sold for an aggregate $5.16 million and more land purchased in Amado and Red Rock for additional new stores. DCM Development of Tucson (Chris Lechner, managing member) is the developer for Dollar General and has told us stores have buyers before being completed. A secure ‘Amazon-proof’ tenant, with good cash flow, and absolute triple net long term leases terms account for this investment popularity.
Dollar General offers products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at low everyday prices in convenient neighborhood locations.
In addition to high quality private brands, Dollar General sell products from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo.
- Jay Umiya DG, LLC purchased a 9,100-square-foot Dollar General building at 7440 S. Wilmot Rd. in Tucson, from DCM Development Company, LLC for $1,900,000 ($209 PSF). Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller; Mark McLoone with Retail Investment Group, LLC, represented the buyer.
- PS Investment, LLC purchased a 9,100-square-foot Dollar General building at 20 S. Lee St. in St. David, AZ., from DCM Development Company, LLC for $1,715,000 ($188 PSF). This is the only Dollar General store in St. David. Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller.
- Spence Family Trust purchased a 9,100-square-foot Dollar General building at 1323 E. High St. in Sunsites / Pearce, AZ from DCM Development Company, LLC for $1,543,500 ($170 PSF). This is the only Dollar General store in Sunsites / Pearce. Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller; John Espinosa with Lee & Associates, represented the buyer.
DCM Development Company, LLC then purchased 1.62 acres of vacant land at 28890 S. Nogales Hwy. in Tucson, from Pierce Construction, Ltd. for $170,000 ($2.41 PSF). Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction.
Three weeks into construction on the Amado and Red Rock Dollar General stores, Hammack is marketing both properties at a 6.25% cap rate to investors.
For more information, Hammack should be contacted at 520.546.2712.
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[mepr-show rules="58038"]Dollar General at 7440 S. Wilmot Rd. in Tucson sold with a 6.09%. Cap rates on the other two were both 6.5% in smaller outlying communities.[/mepr-show]