Investor Purchases Dollar General Store Using 1031 Program

Pratt Thomas, vice president of Merrill P. Thomas Co. Inc., represented investors in the purchase of Dollar General Store #9852 just outside the Fairhope city limits in the community of Barnwell. The property sold for $782,000. The 9,014-ft2 store was built in 2005 for Dollar General, and the retail giant will continue to operate at the location. The company also worked with the buyers to complete a 1031 Tax Deferred Exchange. Thomas explained, “This sale would not have happened if it were not for the 1031 program. Additionally, the buyers likely would not have sold their former property. Throughout the stream of this deal, it helped support hundreds of jobs.” Details of the lease with Dollar General were not disclosed at the time of the sale. Andrew Chason of Marcus & Millichap represented the seller.