Thursday, September 25, 2008

Samco buys Dollar General stores and leases

Samco Properties purchased 24 stores leased to Dollar General from Capital Growth Properties for $20 million, or approximately $86.50 per square foot. The 24 retail buildings total 231,635 square feet and are currently leased to Dollar General, a chain of variety stores. They sold at an estimated cap rate of 7.93%. The stores are all in strong demographic locations throughout Texas and Alabama. Doug Passon and Brandon Duff of Marcus & Millichap represented Samco. Tim Speck, first vice president, and Andrew Clark represented Capital Growth for more info see: www.houstonrealtyadvisors.com or www.houstonrealtyadvisors.net