UPLEG ACQUIRED: 2020 CONSTRUCTION DOLLAR GENERAL
November 20, 2020
The Bogie Group of Marcus & Millichap is pleased to announce the sale of a new construction NNN-leased Dollar General in Washington, an income tax-free state. The asset, located at 198 Summit Road in McCleary, WA, was acquired as the upleg of our client’s 1031 exchange at a 5.76% cap rate for $2,600,000. This corporate absolute net lease has nearly 15 years remaining, three five-year options, and 10% rent increases at each option. The property is well-located in McCleary, WA adjacent to a 42-unit apartment complex and across from a commercial property occupied by a door manufacturer with 200+ employees. We represented the buyer in this transaction. For more information, please contact Steve "Bogie" Bogoyevac at Steve.Bogoyevac@MarcusMillichap.com.