NORTHERN and CENTRAL MICH. — The Boulder Group has arranged the sale of a four-property portfolio of single-tenant net leased Dollar General properties, all located in Michigan, for $8.3 million.
The portfolio consists of four newly constructed Dollar General stores in Gaylord, Reed City, Honor and Vermontville, offering geographic diversification across the northern and central regions of the state.
The properties are situated in established communities with convenient highway access, and several benefit from steady year-round tourism and outdoor recreation traffic. Each store serves as a primary source of everyday household essentials for its surrounding rural trade area.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group, based in Wilmette, Ill., represented both the seller and the buyer in the transaction. The seller was a Midwest-based developer, and the buyer was a Northeast based investment fund.
Each property in the portfolio is leased to Dollar General on an absolute triple-net lease with no landlord responsibilities. Three of the four properties represent the 10,640-square-foot Dollar General Plus prototype, which is a larger store format offering an expanded assortment of fresh and refrigerated products.
The leases feature 5 percent rental increases every five years during the primary term and five 5-year renewal options with 5 percent increases at each option. The leases are guaranteed at the corporate level by Dollar General Corp., which carries an investment-grade credit rating of BBB.
Headquartered in Goodlettsville, Tenn., Dollar General Corp. is one of the largest discount retailers in the United States. As of Jan. 30, 2026, Dollar General operated 20,893 stores — under brands including Dollar General, DG Market, DGX and pOpshelf — across the United States, as well as Mi Súper Dollar General stores in Mexico.
The company reported net sales of $42.7 billion for fiscal year 2025, a 5.2 percent increase over the prior year, and opened 589 new stores during the year. Dollar General offers a broad selection of consumables, seasonal items, home products and apparel.