Dollar General Market 3451 W 37th Ave

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Market property positioned within the Chicago MSA in Hobart, Indiana. The asset features a new 15-year lease that will commence in December 2024 (estimated) following the completion of construction. The subject lease features the new and rare structure of 5% rental escalations every 5 years throughout the primary term and options. The lease is absolute triple net and presents no landlord responsibilities. Furthermore, there is a corporate guaranty from Dollar General Corporation (Standard & Poor’s: BBB).
The 12,480 square-foot building is located just off West 37th Avenue which experiences over 19,800 vehicles per day. Additionally, the property is positioned within proximity to two major Interstates: I-65 (110,000 VPD) and I-94 (169,800 VPD), connecting Hobart to Indianapolis and Chicago respectively. The area surrounding the subject property features an above average population size for Dollar General locations. There are over 122,900 people living within a five-mile radius. The average household income within the same radius is $64,104. The property will also benefit from the lack of grocery competition that serves the surrounding neighborhoods. The city of Hobart has recently recognized the necessity of a comprehensive transportation plan to address anticipated population growth in the coming years. Please see the following page for more information.
Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee, which has been in expansion mode for several years. Dollar General offers products that are frequently used and replenished—such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items—at low, everyday prices in convenient neighborhood locations. A leading discount retailer, Dollar General operates more than 18,130 stores in 46 states and has plans for significant future growth.