Stan Johnson Company Arranges Sale of Newly Rebranded Dollar Tree Store Near Detroit, Michigan
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant retail property leased to Dollar Tree. The property is 9,180 square feet and is located at 3543 South Beech Daly Road in Dearborn Heights, Michigan. Chris Adams of Stan Johnson Company represented the buyer, Dollar Store Investor LLC, which is a private investor based in California. Campbell Black, also of Stan Johnson Company, represented the seller, a Texas-based developer. The property traded for approximately $0.8 million at an 8.56 percent cap rate.
“Several factors made this an attractive investment for the purchaser,” said Adams, Associate Director in Stan Johnson Company’s Dallas, Texas office. “The conversion to Dollar Tree, a recent lease extension, the property’s infill location, and the continuous operation of dollar stores through the pandemic showed a tremendous level of commitment from the tenant. Furthermore, interest rates have fallen significantly, and the buyer achieved an extremely low rate, even compared to quotes offered earlier in the year.”
In October 2019, this suburban Detroit, Michigan location rebranded from Family Dollar to Dollar Tree and underwent a significant capital improvement. The build-to-suit property sits on 0.76 acres and was constructed in 2006. At the time of sale, there were approximately four and a half years left on the tenant’s double net lease.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $35 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.