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.

Login in for additional information and see RED Comp #6007 and #5996.

[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]

TUCSON, Arizona – DCM Development Company of Tucson (Chris Lechner, managing member) sold the newly constructed Dollar General store serving Picture Rock area at 6780 N Sandario Road in Tucson for just under $1.75 million ($194 PSF).

The 9,000-square-foot Dollar General store with 54,450-square-feet of land opened in October and sold as a true net lease investment with corporate guarantees.

Dave Hammack of Volk Company in Tucson represented the seller in this investment sale while the investor, Damco Arizona Properties LLC of Miami Beach, Fla. (Damon Giglio, managing member) was self-represented.

For more information, Hammack should be reached at 520.326.3200.

To learn more, see RED Comp #5329.

A second Dollar General sale took place in the little hamlet of Catalina.

The Dollar General store at 16355 North Oracle in Catalina sold for $1.75 million ($192 PSF). DCM Development also built this store in 2015 and then sold it to investor, Eight Bits LLC of Manhattan, NY.

Eight Bits recently resold the 9,100-square-foot building on a 47,292-square-feet lot to a group of private investors doing a 1031 exchange from Marina Del Ray, California.

Candace Bare with Marcus & Millichap in Las Vegas represented the seller in the transaction and Steven Schechter with Marcus & Millichap in Encina represented the investor.

For additional information, Bare should be reached at 702.215.7125 and Schechter can be contacted at 818.212.2793.

To learn more, see RED Comp #5261.

The quiet little hamlet of Catalina, a Tucson bedroom community found 12 miles to the north and nestled against the western edge of the Catalina Mountains, is being transformed from a sleepy little community into a place bustling with almost 40,000-square-feet of construction projects these days.

ADOT, Federal Highway Administration and the Regional Transportation Authority have been working together to widen to six lanes Oracle Road (SR 77) from Tangerine Road to Pinal County Line with anticipation for completion by spring 2016.

But looking beyond all that road construction there is also a growing number of new stores under construction lining Oracle Road in this small community of about 6,000 people.

Bringing our attention to the area was the recent sale of a Dollar General store at 16355 North Oracle that sold for $1.72 million ($189 PSF) in a triple net sale to Nevada investors. The land was purchased in July 2014 for this project and construction of the 9,100-square-foot store was completed this past March by Tucson-based, DCM Development (Chirs Lechner, managing member) the seller.

Adjacent to the Dollar General, another DCM Development project is about to begin for an O’Reilly Auto Parts store. Owned by an affiliate of DCM Development, this is expected to be approximately a 7,000-square-foot store. Expected delivery time for the O’Reilly Auto Parts store is November 2015.

Nearby, across the street and to the south, is a new 21,702-square-foot Tractor Supply store that looks ready to open this month. In addition to the main building Tractor Supply has a 1,250-square-foot hay barn, located at the northeast corner of Oracle and Lamb Drive, adjacent to Catalina Plaza. The 4.68 acres was purchased in November 2014 for this project and had to be rezoned to accommodate the outdoor display areas required for Tractor Supply.

David Hammack of the Volk Company in Tucson represented DCM Development in the land purchases and sale of the Dollar General store. Candace Carrell with Marcus & Millichap of Las Vegas, NV represented the investors.

To learn more Hammack should be reached at 520.326.3200 and Carrell can be contacted at 702.215.7125.

Log in for additional information on the land assemblages and sale and refer to RED Comp #2953, #2035, #2959 and #2278.