Atlanta — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the $54.6 million sale of a portfolio of 35 Dollar General-leased stores across 12 states.
Don McMinn of Taylor McMinn represented the seller, CMK Properties, a privately-held real estate investor and syndicator based in Brentwood, Tennessee. The buyer was Realty Income, a net lease REIT based in San Diego. Dollar General occupies each property under a triple-net lease with roughly 10 years remaining on each term.
“This transaction illustrates the current peak demand for Dollar Generals in the market today from both private and institutional investors,” says McMinn of the Atlanta-based office. “Due to the limited supply these stores are trading at historic levels both individually and on a portfolio level.”