VARNVILLE, SC – [January 18, 2023] – Blue West Capital has completed the sale of a single tenant net leased Dollar General located at 115 West Carolina Avenue in Varnville, SC for $1,210,000. 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.
The Dollar General property is located approximately fifty miles from Charleston and sixty-five miles from both Savannah and Augusta. The property is strategically located along U.S. 278, the area’s primary thoroughfare, and is positioned within a retail trade area that also includes Food Lion, Advance Auto Parts, O’Reilly Auto Parts, McDonald’s, Piggly Wiggly, Taco Bell, and many others.
The Dollar General was constructed in 2011 and 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 $55 billion market capitalization.
“Demand for Dollar General properties remains strong amongst 1031 exchange investors. These properties offer an investment grade rated tenant, an e-commerce and recession resistant business model, and a low price points,” stated Zach Wright, Director & Partner.
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