Our November 18th episode features Branson Blackburn and Matt Davis of Trinity REIS discussing the rising success of Dollar General and net leases.
Crexi’s PRO Perspective series explores various aspects of the commercial real estate industry in conversation with some of its top CRE professionals. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate.
In this episode, Crexi’s Yannis Papadakis sits with Branson and Matt to discuss the rise of Dollar General and other net lease successes. The conversation ranges from the first appearance of discount stores, their resilience amid turbulent economic times, and how the Trinity REIS team has transacted more than 120 Dollar General assets in 2020. Some key takeaways include:
- Net lease assets have been steadily growing in popularity as investors largely move from assets that require management and attention to more hands-off options.
- COVID-19 has made commercial buyers more conscious: Dollar General is an attractive investment option because it weathered the storm in the early days of the pandemic.
- Dollar General leases have evolved over the last decade. They began as double net leases, where landlords were responsible for maintenance and lease terms were shorter. Today, Dollar Generals are opting for longer term, triple net leases. Longer-term leases are far more attractive to investors, particularly amid the pandemic.
- Dollar Generals in urban markets typically sell at lower cap rates, thanks to the promise of consumer demand. In more rural areas, too, cap rates are steadily compressing as more and more investors are attracted to Dollar General’s lease structures.
Prefer video? Check out the episode on Youtube:
About Branson Blackburn:
Branson Blackburn is a co-founder, President, and Managing Partner at Trinity Real Estate, where he manages and specializes in advisory, consulting, and transactional services for net lease assets across the country. Before launching Trinity, Branson served as a Senior Director at KW Net Lease Advisors. There, Bransondeveloped his comprehensive understanding of net leases as a top producer. Branson has transacted more than 150 net lease deals throughout his career, representing over $200 million in volume.
Branson earned his Bachelor’s degree in Marketing from Abilene Christian University and is an active member of the International Council of Shopping Centers (ICSC) and CCIM.
About Matt Davis:
Matt is a founding member and Partner of Trinity Real Estate Investment Services. Matt specializes in the acquisition and disposition of single tenant net leased assets. Matt takes pride in his thorough comprehension of the net lease market and enjoys building lasting relationships with his clients, helping them achieve their investment goals.
Matt earned his Bachelor’s of Science in Education from Abilene Christian University.
Crexi is a commercial real estate (CRE) property marketing and deal management platform that combines an active marketplace for sale and lease properties with powerful property marketing, deal management, and market intelligence tools designed to help brokers, buyers, and tenants eliminate time-consuming processes and close deals faster.