November 14, 2022 – Jack Laurendeau, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Dollar General in South Kingstown, Rhode Island. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,292,800.
Dollar General is located at 1860 Kingstown Road in South Kingstown, Rhode Island. This is a new construction Dollar General that was completed in 2022. The property consists of a 7,500 square foot stand-alone building on a 1.16-acre parcel of land. Dollar General has a new 15-year corporate guaranteed Absolute Net lease followed by three, 5-Year renewal options. The lease calls for a 10% increase at the start of each renewal option. Dollar General is strategically located on Kingstown Road, less than two miles from the University of Rhode Island’s campus. The university is home to over 18,000 students and nearly 700 full time staff. The property is located in South Kingstown, which is home to two of Washington County’s scenic beaches, tranquil farmlands, and historic landmarks and offers miles of unspoiled and breathtaking shoreline. Downtown offers unique shops and restaurants that line Main Street, creating a desirable shopping corridor.
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.