PORT CHARLOTTE, FL – [October 12, 2022] – Blue West Capital has completed the sale of a single tenant net leased Dollar Tree located at 12501 South McCall Road in Port Charlotte, FL for $2,300,000. Zach Wright and Brandon Wright, of Blue West Capital, exclusively represented the seller. The Seller was a Florida-based partnership and the buyer was a 1031 exchange investor based in Florida.
The 8,320 square foot Dollar Tree property is positioned along South McCall Road, the primary east-west thoroughfare in the area with traffic counts of 25,000 vehicles per day. The Dollar Tree is an outparcel to a Home Depot. The surrounding area is densely populated with approximately 20,000 people living within three miles.
Dollar Tree has a proven and successful operating history at this location and recently exercised a renewal option. Dollar Tree is an investment grade rated company (S&P: BBB) and is publicly traded (NASDAQ: DLTR) with a market capitalization of $37 billion. Dollar Tree is headquartered in Chesapeake, VA and has over 15,000 locations.
“Single tenant properties with proven operating histories and investment grade credit are highly sought after amongst net lease investors. Dollar Tree just exercised their first renewal option which contributed to the significant interest in this property that we received,” stated Zach Wright, Director & Partner.
“Florida single tenant properties continue to command premiums compared to the rest of the U.S. This is the fifth STNL property we’ve sold in Florida in the past several weeks. Much of the interest has come from investors based in the West, Northeast, and in Florida,” added Brandon Wright, Associate.
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