Northmarq’s Tulsa Office Announces $4.855 Million Sale of Two Brand New Dollar Generals in Connecticut

Northmarq’s Tulsa Office Announces $4.855 Million Sale of Two Brand New Dollar Generals in Connecticut

Erik Lundberg, associate vice president in Northmarq’s Tulsa office, completed the sale of two brand new, New England style properties leased to Dollar General located at 580 Lake Road in Andover and 1967 Norwich-New London Turnpike in Montville, Connecticut. Lundberg represented the buyer, a private investor located in Farmington, who acquired the assets for a total of $4.855 million. The seller was a developer based in Torrington.  

“Despite the challenges of today’s market, we were able to successfully complete two separate 1031 buy needs, placing our client into two new construction Dollar General build to suits, both in prime Connecticut locations,” said Lundberg. 

The newly constructed buildings feature upgraded construction including architectural asphalt shingles, Hardie board siding, decorative lighting fixtures, and New England style windowed dormers. Strategically located just off US Highway 6, the Andover property is 15 miles east of downtown Hartford and seven miles from the University of Connecticut and Eastern Connecticut State University, attracting students and residents across the state. Situated in the village of Uncasville, the Montville Dollar General is a short distance from the Mohegan Sun Casino. Additionally, the property is conveniently located across the street from a Stop & Shop and Home Depot-anchored shopping center and neighbors a McDonald’s and CVS Pharmacy. The tenants operate on a long-term absolute triple net lease.  

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: