Oct 12, 2022

Blue West Capital Arranges Sale of Two Property Dollar General Portfolio in Orlando MSA

ORLANDO, FL – [October 12, 2022] – Blue West Capital has completed the sale of a single tenant net leased Dollar General portfolio within the Orlando MSA for $3,727,000. The properties sold for the full asking price and numerous qualified offers were generated. The portfolio consisted of the below Dollar General properties.

  1. 3850 North Highway 19A, Mount Dora, FL 32757 | $1,932,000
  2. 2640 East Orange Avenue, Eustis, FL 32726 | $1,795,000

Both Dollar General properties are located approximately thirty-five miles northwest from Downtown Orlando. The properties are located within densely populated areas with over 30,000 people living within three miles of the Eustis store and over 34,000 people living within three miles of the Mount Dora store.

Dollar General has operated at each location for approximately nine years and both properties were constructed in 2013. Both leases are absolute triple net with no landlord responsibilities. Dollar General is an investment grade rated tenant (S&P: BBB) and is a publicly traded company (NYSE: DG) with a market capitalization of $54 billion.

Zach Wright and Brandon Wright, of Blue West Capital, exclusively represented the repeat seller. The seller was a Florida-based partnership and the buyer was a local 1031 exchange investor.

“Dollar Generals are amongst the most sought-after single tenant property types by 1031 exchange investors. Investors are paying premiums for Dollar Generals located in major MSAs with strong real estate fundamentals. Both properties received immense investor interest due to their desirable locations within the Orlando MSA,” stated Zach Wright, Director & Partner.

“Florida STNL properties continue to be amongst the most sought-after by investors nationally due to the growing demographics and favorable business environment. We received substantial interest from investors located nationally and locally,” added Brandon Wright, Associate.

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