BUFFALO, N.Y. (WBEN)........A Virginia-based real estate investment group that targets single-tenant properties has acquired a stand-alone Buffalo building that houses a Dollar General retail outlet.
BMG Value Fund LLC - an affiliate of Richmond-headquartered Battle Monument Group paid $1,170,683 for the 9,100-square=foot Dollar General store at 2137 Seneca Street.
Battle Monument Group has several other regional holdings.
The deal fits right into Battle Monument Group's investment sweet spot in acquiring properties anchored by a single tenant that has been at the location for at least five years and finishes annually with a positive cash flow and spread sheet.
Dollar General is remaining as the building's sole tenant.
The building was constructed in 2012 for Dollar General and replaced an outdated PIzza Hut/Wendy's combination at the site.
Dollar General remains open
Dollar General remains open
