CMK Properties (Brentwood, Tenn.) is excited to announce that construction is now complete on Phase I of CMK’s ground up development known as Woodforest Professional Plaza located in Montgomery, Texas, at 750 Fish Creek Thoroughfare.
Brentwood, Tennessee-based developer and real estate sponsor CMK Properties recently completed a $54.6 million sale of a 35-store Dollar General portfolio located across 12 states.
“The sale of our Dollar General portfolio is a culmination of over 10 years of disciplined acquisitions and represents a huge win for our investors,” said John Hopfensperger, President of CMK. “This successful exit highlights our focused approach of investing in institutional grade real estate in carefully selected markets that produce solid, stable and predictable returns. We will continue to leverage the collective experience of our purpose-built team at CMK Properties to provide compelling investment opportunities for our accredited investors at an accessible minimum investment threshold.”
Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta helped broker the sale.
“This transaction illustrates the current peak demand for Dollar General in the market today from both private and institutional investors,” McMinn said. “Due to the limited supply these stores are trading at historic levels both individually and on a portfolio level.”
In addition to the acquisition of net lease properties with strong credit tenants, the company is also actively involved in the ground-up development of medical office, multifamily and net lease properties across the southeastern and midwestern United States.
For more information about CMK Properties, visit www.cmkproperties.com.