January 23, 2023 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Dollar General in Gloucester, Virginia. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,736,174.
Dollar General commenced a 15-year Absolute Net Lease in 2017 that has 10+ years of term remaining followed by five (5), 5-year renewal options. The lease features 10% rent increases at the start of each renewal option. The Property is positioned at the intersection of Woods Cross Road (VA Route 610) and US Highway 17, the area’s primary commuter corridor traversing Gloucester. Dollar General benefits from outstanding visibility and frontage with a pylon sign. Dollar General is the primary shopping destination in the northwestern region of Gloucester with the closest dollar store, pharmacy, supermarket/grocery store, or big box retailer more than 8-miles away. The Property is located in northwestern Gloucester and is approximately 30 miles from the Newport News and 48 miles from Richmond.
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.