Fort Morgan Dollar General Sells

Fort Morgan Dollar General Sells

Source: Colorado Real Estate Journal, Sept. 1, 2021, p. 16: Buyer 319 N. Tustin LLC purchased the 9,014 sf retail property at 522 Warner St. in Fort Morgan from seller Osage Properties LLC. The asset traded for $1.38 million, representing a 6.4% cap rate. Jeff Lin of Colliers International represented the buyer in the deal, while David Gagliano and Jason File of Fuller Real Estate represented the seller. Built in 2007, the property is fully occupied by Dollar General under a triple-net lease. The tenant’s agreement runs through November 2027 and features several renewal options. The buyer is a California-based investment group that acquired the property in a 1031 exchange.