Fairplay, CO – [June 8, 2021] – Blue West Capital has completed the sale of a new construction single tenant net leased Dollar General property located at 1197 Bullet Rd, Fairplay, CO for $2,085,133. Robert Edwards and Zach Wright, of Blue West Capital, represented the purchaser. The repeat purchaser was a Colorado-based 1031 exchange investor.
The Dollar General features a 15-year absolute triple net lease and is a brand-new construction building. The Dollar General is strategically located on Highway 285, a major thoroughfare providing access from Denver to many of Colorado’s mountain communities. Dollar General is publicly traded (NYSE: DG) with a market capitalization in excess of $50 billion. Dollar General has an investment grade credit rating (S&P BBB).
“Cap rates for single tenant Dollar General properties have compressed substantially over the past twelve months. Many private 1031 exchange investors are attracted to Dollar General properties due to their long-term leases that feature no landlord responsibilities, low price points, and extremely successful and e-commerce resistant business model. We were able to utilize our robust network of developers and brokers to identify this acquisition opportunity prior to the property being publicly marketed,” said Robert Edwards, Managing Partner.