The Crexi Commercial Real Estate Podcast | CRE Insights & Strategies The Rise of Dollar General
In this episode of The Crexi Podcast, Branson Blackburn and Matt Davis of Trinity REIS discuss the rising success of Dollar General and net leases.
The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the industry. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate.
In this episode, Crexi’s Yannis Papadakis sits with Branson and Matt to discuss the rise of Dollar General and other net lease successes. The conversation ranges from the first appearance of discount stores, their resilience amid turbulent economic times, and how the Trinity REIS team has transacted more than 120 Dollar General assets in 2020. Some key takeaways include:
- Net lease assets have been steadily growing in popularity as investors largely move from assets that require management and attention to more hands-off options.
- COVID-19 has made commercial buyers more conscious: Dollar General is an attractive investment option because it weathered the storm in the early days of the pandemic.
- Dollar General leases have evolved over the last decade. They began as double net leases, where landlords were responsible for maintenance and lease terms were shorter. Today, Dollar Generals are opting for longer term, triple net leases. Longer-term leases are far more attractive to investors, particularly amid the pandemic.
- Dollar Generals in urban markets typically sell at lower cap rates, thanks to the promise of consumer demand. In more rural areas, too, cap rates are steadily compressing as more and more investors are attracted to Dollar General’s lease structures.
**A note: this conversation originally aired as an episode of Crexi’s PRO Perspective webinars. The audio is reproduced here as a podcast.**
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For show notes, past guests, and more CRE content, please check out Crexi’s blog.
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