The Boulder Group completed the sale of a single-tenant Dollar General at 4531 Lansing Road in Bancroft, Michigan, for $1.325 million.
The recently built 9,100-square-foot property is located just off Interstate-69, which connects Bancroft to Lansing and Flint. Bancroft is located about 25 miles east of Michigan State University. More than 51,000 people live within 10 miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer. The buyer was a private investor from Michigan.
There are 15 years remaining on the Dollar General lease. The lease features 10 percent rental escalations in each of the four five-year renewal option periods.
