Bull Realty Sells $4.7 Million Retail Porfolio
Bull Realty brokered the sale of a $4.7 million Family Dollar portfolio of three single tenant net lease locations, two in Georgia and one in Alabama. The properties, all built in 2015, each have 15-year triple net leases with 6 five-year options. The transaction closed on January 9, 2017 for $4,695,855 at a 6.5% cap rate.
Two of the three properties were exclusively listed by Nancy Miller, President of the National Net Lease Investment Group at Bull Realty. These Family Dollars locations were in Albany, GA and Montgomery, AL. A third location in Warner Robbins, GA was an off-market location.
In the current environment, brokers are challenged with of a limited supply of quality net lease properties. However, because of her developer relationships, Miller was able to identify the third property from a seasoned Family Dollar developer to complete the portfolio. “We are fortunate to have great relationships with developers so we are able to find on and off market opportunities for buyer needs and we are very ‘broker-friendly’ too,” said Miller.
The Albany location sold for $1,528,209. The Montgomery location sold for $1,589,123. And the Warner Robbins location sold for $1,578,523. These transactions were part of a 1031 exchange completed by a Savannah buyer, represented by Sperry Van Ness.
For more details and information, contact Nancy Miller at 404-876-1640, x 118 or email: NMiller@BullRealty.com.
For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in ten states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts The Commercial Real Estate Show (www.CREshow.com) and Atlanta Places TV (www.AtlantaPlacesTV.com).