February 5, 2020
SOLD – PORTFOLIO OF 4 DOLLAR GENERAL LOCATIONS – ALABAMA & TENNESSEE
J.H. Winokur, Inc. is pleased to announce the closing of the sale of a portfolio of net lease Dollar General properties located in Anderson, Alabama, Butler, Tennessee, Friendsville, Tennessee and Greenback, Tennessee. The sites all benefited from their rural locations with minimal competition. All of the Dollar General properties had been open a number of years at the time of the transaction and featured a low rent per square foot.
The Anderson, Alabama site is located on the main North/South road from Anderson to Rogersville, Alabama. The Butler property is near Lake Watauga. Many boaters, fishermen, jet skiers and white water rafters stop at this Dollar General on the way to Lake Watauga. The Friendsville Dollar General is located just off W Lamar Alexander Parkway (State Route 73), a major roadway between Maryville and Lenoir City. Friendsville, which is part of the Knoxville MSA, has seen over 2% annual population growth in recent years. Greenback is part of Knoxville MSA. Knoxville is the largest city in eastern Tennessee and home to the University of Tennessee, serves as a gateway to the tourist and recreation destinations of the Great Smoky Mountain National Park to the southeast.
J.H. Winokur represented the seller a private investor who originally purchased the Dollar General stores as passive investments. A main selling feature for Dollar General (NYSE: DG) for the investment community is the tenant’s S&P and Moody Investment grade credit rating.
Founded in 1978, J.H. Winokur continues to be a trusted advisor and broker for private investors and 1031 exchange buyers seeking the best real estate investments for their goals. For more information contact Jeff Winokur.
