SRS’ National Net Lease Group Brokers $2.122 Million Record-Breaking Sale of a Dollar General-Occupied Property in Diamond, Ill.

Newport Beach, Calif. (September 1, 2022) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $2.122 million sale of a 12,324-square-foot single-tenant property occupied by Dollar General located at 1185 E. Division Street in Diamond, IL.

At $2.122 million, the sale broke a record for the highest price paid for a Dollar General property ever recorded in the state of Illinois, as well as the highest price paid for a Dollar General property in the Midwest (IL, IN, OH, MI, WI, MO, IA, MN) with 10 years or less remaining on the lease term (per Costar).

SRS NNLG’s Steven Roberts, Michael Carter and Frank Rogers represented the seller, an Illinois-based private investor. The buyer was a California-based REIT.  

“Dollar General recently renewed its lease for an additional 10 years with options to extend, proving its commitment and ability to operate at this location successful and making this investment opportunity attractive to the new buyer,” said Roberts. “This is also a surplus size store format for Dollar General being 12,324 sf and it is the only dollar store in the city of Diamond. With limited competition, a recognized publicly traded brand and a highly visible location, this asset garnered a number of offers and secured record-breaking sales numbers.”

Built in 2000, the property is situated on 1.90 acres and is well-located on a visible and well-trafficked intersection near the on/off ramp of Interstate 55.

In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market, with more than 465 properties sold year-to-date in 2022.  

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2021, the group completed more than 899 sales across more than 49 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.