A California-based real estate investment firm has purchased two Dollar General properties for a combined $2.8 million, according to sales documents.
ExchangeRight Real Estate, based in Pasadena, bought the Dollar General property on Harrells Ferry Road, near the O’Neal Lane intersection, for $1.5 million. It also bought a 1.1 acre tract on Florida Boulevard, near Foster Drive, for $1.3 million.
ExchangeRight specializes in portfolios of long-term net-leased properties with national retail tenants. Joshua Ungerecht, managing member of ExchangeRight, represented the company in both deals.
New Orleans-based Dorsey Development sold the two properties through subsidiary LLCs. Dorsey Development has developed more than 2.3 million square feet of retail space, according to its website.