ATLANTA—A newly-constructed freestanding Family Dollar has changed hands in an all-cash 1031 exchange deal. The relocation store comes with a new 10-year lease and corporate guarantee.
Mac McCall and Bryan Belk of Franklin Street Real Estate Services represented the seller, a local developer, in the transaction. The buyer was out of California.
“We were able to generate eight offers, eventually locating this aggressive buyer,” says McCall. “We continue to see robust buying activity for single-tenant and high-quality retail transactions throughout the Southeast while demand is drastically outpacing supply.” McCall expects this trend to linger as investors continue to hunt for better yielding investments as long as interest rates remain low.
The Family Dollar is located at 5403 Old National Highway in Southwest Atlanta near Interstates 285 and 85, three miles from the Atlanta Airport. Family Dollar is one of the fastest-growing discount store chains in the U.S. with more than 7,440 stores.