Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of four freestanding Dollar General locations across the state of Georgia. Doug Clyburn and Julie Clyburn represented the 1031 exchange buyer in all transactions. The four unique sellers were developers and private investors based in Alabama, California and Georgia. Together, the four properties totaled $8.5 million with an average cap rate of approximately 5.00 percent.
“We were privileged to work with a retired doctor and his foundation to source and purchase four new Dollar General locations,” said Doug Clyburn, Associate Director in Northmarq’s Alpharetta, Georgia office. “These secure and stable assets will ensure continued funding for his non-profit foundation which provides support through charitable giving to a local Georgia community.”
Combined, the properties totaled nearly 38,000 square feet. All built within the last few years, the properties featured long-term net leases and sizable acreage. The properties are located in the northeast Georgia cities of Bishop, Colbert, Cornelia and Loganville. The Colbert location was a Dollar General Plus, a concept larger than the traditional Dollar General format that features an expanded grocery section with additional perishable items.