Marcus & Millichap Brokers $54.6M Sale of National Dollar General Store Portfolio
ATLANTA — Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta 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, Tenn., in the sales transaction. The buyer was Realty Income, a net lease REIT based in San Diego.
All the Dollar General leases were triple net lease and had around 10 years of term remaining.
“This transaction illustrates the current peak demand for Dollar Generals in the market today from both private and institutional investors. Due to the limited supply these stores are trading at historic levels both individually and on a portfolio level,” says McMinn.