Hanley Investment Group sells pair of Dollar General stores in Ohio

Hanley Investment Group Real Estate Advisors has arranged the sale of two new-construction single-tenant Dollar General properties in Ohio in separate transactions. The two build-to-suit properties were located in Windham and Bradner, Ohio, and sold for a combined consideration of $3.1 million.

Hanley Investment Group’s senior associate Beau Velten, along with executive vice presidents Jeff Lefko and Bill Asher, in conjunction with ParaSell, Inc., represented the buyer, a private 1031 exchange buyer based in San Diego, California, in both transactions.

The seller and developer of both properties, Zaremba Group of Lakewood, Ohio, was represented by Doug Holtzman and Tori Nook of Anchor Cleveland in Beachwood, Ohio.

The Dollar General store in Windham is a freestanding 10,566-square-foot Dollar General Plus store at 9132 N. Main St. and Maple Grove Road, a hard corner intersection. The sale price was $1.648 million.

The Dollar General Plus store is a relocation and expansion of an existing Dollar General from across the street into the Dollar General Plus model, which offers more grocery services and products than a traditional Dollar General. The 1.52-acre property, which is surrounded by residential, is also a half-mile from Windham High School and a quarter mile from Katherine Thomas Elementary School. The population count within a five-mile radius of the store is estimated to be 12,314.

The second Dollar General store that the buyer purchased was a freestanding 9,026-square-foot store at 1107 Bowling Green Road (U.S. Route 6) in Bradner, a small, largely residential community in Wood County that is part of the Toledo metropolitan area. The sale price was $1.458 million.

The property sits on 2.04 acres and is located across the street from a Fuel Mart commercial fueling station and a large convenience store. The site is also 10 miles from Bowling Green State University with about 14,000 undergraduate students. There are more than 13,000 people within a seven-mile radius of the Dollar General store and nearly 102,000 people within a 15-mile radius.