COWPENS, SC – [November 30, 2022] – Blue West Capital has completed the sale of a single tenant net leased Dollar General located at 5392 N Main Street in Cowpens, SC for $1,890,000. The property received numerous qualified offers and sold for 99% of the asking price. In October, Blue West Capital sold a Dollar General property located at 501 Arch Street in Lancaster, SC.
The Dollar General property is located within the Greenville-Spartanburg-Anderson CSA. There are over 18,000 people living within five miles of the property. The Dollar General is strategically positioned along Main Street (U.S. 29) approximately nine miles northeast of Downtown Spartanburg.
The Dollar General was constructed in 2011 and features an upgraded all-brick 10,640 SF prototype building. There were less than four years remaining on the triple net lease at time of sale. Dollar General is an investment grade rated tenant (S&P: BBB) and is a publicly traded company (NYSE: DG) with a $57 billion market capitalization.
Zach Wright, of Blue West Capital, exclusively represented the seller. The seller was a Florida-based institutional investment and development company. The purchaser was a 1031 exchange investor based in North Carolina.
“Dollar store investors are paying premiums for well-located Dollar General stores featuring the larger prototype buildings and those with upgraded construction. This all-brick Dollar General “Plus” received numerous qualified offers and ultimately sold for 99% of the asking price.”Zach Wright, Director & Partner
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