The Boulder Group completed the sale of a single-tenant Dollar General at 405 Broadway Ave. in South Roxana, Illinois, in the St. Louis market for $588,000.
The 8,125-square-foot Dollar General building is located at the corner of Broadway Avenue and Illinois Route 111 (Central Avenue), the two primary thoroughfares in the area. The property is positioned in an area that is rapidly being developed into a national transportation hub because of its central location in the Midwest and the confluence of several major interstate highways nearby.
The property is in an area consisting primarily of oil industry professionals. The Wood River Refinery, positioned immediately to the north in Roxana, is one of the region’s largest oil refineries employing more than 1,100 people and recently underwent a $2 billion expansion. Dollar General has operated at the location since 2003 and has an established customer base.
Randy Blankstein and Asher Wenig of The Boulder Group represented the seller and purchaser in the transaction. The seller was a Midwest-based private investor. The purchaser was a charitable trust based in the Mountain West.
