October 15, 2020 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Dollar General in Cranston, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,625,000.
Dollar General is located at 1548 Broad Street in Cranston, RI. Redeveloped in 2014, the stand-alone building consists of 10,640 square feet and sits on 0.76-acre corner lot with 42 striped parking spaces. Dollar General has five years remaining on the initial lease term with three five-year renewal options. The lease calls for a 10% rent increase every 5-years throughout their base term and at the start of each option period. Dollar General is strategically located on Broad Street, a primary north-south thoroughfare bisecting the densely populated city of Cranston. The location offers access to exceptional demographics with more than 158,000 people living within a 3-mile radius of the Property with an average household income of $68,248. Due to the strong location, the property was an early adaptor of Dollar General’s “DG Fresh” initiative, outfitted to sell fresh, frozen and refrigerated foods to help build store traffic and comps for a national rollout program.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.