CBRE Arranges $22.7 Million Sale of 18-Property Dollar General Portfolio Across Pennsylvania and Ohio

CBRE has arranged the sale of an 18-property, net-leased retail portfolio totaling 174,078 square feet across Pennsylvania and Ohio. The portfolio, fully occupied by Dollar General, was purchased by Realty Income from Miller Bros. Construction Inc. for $22.7 million.

CBRE’s Michael Shover, Matthew Gorman, Thomas Finnegan, Robert Thompson and Nick Holtz represented both the buyer and seller in the transaction.

“Drawing on CBRE’s scale and market insight, we successfully matched a complex, multi-state portfolio with a highly qualified institutional buyer,” said Shover. “The execution highlights sustained demand for well-located, net-leased retail investments.”

The portfolio includes properties located across Pennsylvania and Ohio, including assets in Tioga, Bangor, Fawn Grove, Jersey Shore, Bellefonte, Berrysburg, Greencastle, Schellsburg, Oxford, Milan, Hazle Township, Newburg, Burlington and Beaver Meadows, Pennsylvania, as well as Amherst, Waynesburg, Lorain and Vermilion, Ohio.

“Michael Shover made a complex transaction involving 18 properties feel manageable from start to finish,” said Mark Hoover, President of Miller Bros. Construction Inc. “I’m not sure the deal would have closed without his efforts.”