Austin, TX (July 5, 2012) –
A free standing Net Leased Family Dollar – Austin, TX sold for an undisclosed amount. Store sales for this location are well above average.
“The buyer was a family trust with the trustees living in the Austin, TX metro area.” said Ken Wimberly, CCIM, Managing Director of Noble Crest Property Group. “The buyer received a competitive cap rate with a national tenant located in one of the most desirable cities in the nation.”
The buyer was represented by Ken Wimberly, CCIM of KW Net Lease Advisors, a Texas based investment real estate brokerage & advisory firm. The sale was part of a 1031 Exchange and went from contract to close in less than 30-days. The seller, a national development company, was self-represented.
On July 6, 2015, Dollar Tree completed its acquisition of Family Dollar stores.
The Family Dollar segment operates general merchandise discount retail stores providing consumers with a selection of competitively-priced merchandise in convenient neighborhood stores. The Family Dollar segment consists of operations under the Family Dollar brand, eleven distribution centers and a Store Support Center in Matthews, North Carolina. The stores average 7,800 square feet and they range from predominantly 6,000 – 8,000 selling square feet. In their 7,897 Family Dollar stores, the company sell merchandise at prices that generally range from $1.00 to $10.00.
Family Dollar stores provide customers with a quality, high-value assortment of basic necessities and seasonal merchandise. They offer competitively-priced national brands from leading manufacturers alongside name brand equivalent value priced private labels. Family Dollar purchase merchandise from a wide variety of suppliers and generally have not experienced difficulty in obtaining adequate quantities of merchandise.
While the number of items in a given store can vary based on the store’s size, geographic location, merchandising initiatives and other factors, Family Dollar typical store generally carries 7,000 basic items alongside items that are ever-changing and seasonally-relevant throughout the year.
See more about Family Dollar including average trading prices, lease details and cap rates.