Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a build-to-suit Dollar General located at 5269 Bridge Street Highway in Parks, Louisiana. The newly constructed property totals 9,026 square feet, and it was purchased by an individual investor based in Valley Village, California for $1.3 million. Ryan Roedersheimer of Stan Johnson Company represented the seller, a developer from Alexandria, Louisiana. The reported cap rate was 6.75 percent.
“We had strong interest in this asset, which presented an opportunity to select from multiple qualified investors, both local and out of state,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “Ultimately, we selected a California-based exchange buyer who brought a winning combination of price and terms that solidified them as the best trade partner. This was a very smooth transaction and one we enjoyed. All parties walked away extremely happy with the outcome.”
The newly built dollar store opened in summer 2020 and features a long-term triple net lease. The property sits on a one-acre parcel just 15 miles east of Lafayette, Louisiana.