Jack Collins, senior associate in Northmarq’s Chicago office, completed the sale of a brand new, single-tenant property leased to Dollar General located at 1310 Westinghouse Rd. in Georgetown, TX. Collins successfully closed the property at a 5.25% cap rate to a private investor.
“Even with turbulent market conditions, properties in Sun Belt markets, like Austin, TX are continuing to have a lot of activity and achieve strong pricing when compared to other regions,” said Collins.
The newly constructed freestanding Dollar General features 10,566 sq. ft. situated on approximately 1.32 acres. The property is located just off Interstate 35 along the busy Westinghouse Rd. Georgetown, TX is a suburb less than 30 minutes north of Austin, TX, and has been ranked as one of the fastest growing cities in the U.S. The tenant operates on a long-term absolute triple net lease and has proven to have one of the most successful business models in the net lease space.