Marcus & Millichap announced the sale of Dollar General, a 10,640 square foot property in Millsboro, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The property sold for $2,070,000.
The buyer, a limited liability company, was secured and represented by Derrick Dougherty and Steve Garthwaite, investment specialists in Marcus & Millichap’s Philadelphia office. “The purchaser was attracted to this asset due to the quality location and long term lease guaranteed by a BBB rated public company”, said Garthwaite.
“Dollar General grew through the last recession and has seen increases in sales in as much as 300 percent at some locations throughout this pandemic. We continue to be bullish on essential retailers as an investment strategy and for equity preservation heading into a potential downturn.”, said Garthwaite.
The five-mile population from the site exceeds 29,600, while the one-mile median household income exceeds $71,000 per year.