A subsidiary of Inland Diversified Real Estate Trust, Inc. has acquired a fee simple interest in the 20,707 square foot Dollar General Market store in Port St. Joe, FL for $3.6 million. The cap rate for this property is approximately 8.5 percent based on the purchase price paid at closing.
The property is leased to Dollar General Corp on a fifteen year, triple-net lease expiring in November 2026. The lease is renewable for four five-year terms, through November 2046. This Dollar General Market store includes both non-grocery and grocery components.
http://southfloridarealestate.citybizlist.com/6/2012/1/29/Dollar-General-in-Port-St-Joe-FL-Acquired-for-3.6M.aspx
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