Retail March 2, 2023 2:54:47 pm

Dollar General building in Wellington sold

The Dollar General store at 7590 Fifth St. in Wellington has been sold. Courtesy Cushman & Wakefield

By BizWest Staff

WELLINGTON – A 9,100-square-foot building currently leased to a Dollar General variety store in Wellington has been sold for $2.5 million.

The freestanding building at 7590 Fifth St. sits on more than one-half acre and was built in 2021.

The property was sold Feb. 13 to the joint venture of Stover LLC, Cheyenne I LLC, Cheyenne II LLC and Meldrum LLC. The seller was Wellington CO DG, LLC. Jared Goodman and Anne Spry, from the Fort Collins office of Cushman & Wakefield, represented the buyer in the transaction. The seller was represented by John R. Wertz with Wertz Real Estate & Investment Services.

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“This is a highly desirable investment asset consisting of brand-new construction in an underserved market that is supported by a strong corporate retail tenant with a long-term triple-net lease,” said Jared Goodman, managing director of Cushman & Wakefield’s Fort Collins office, in a prepared statement. “The property is also conveniently located and offers high visibility from Interstate 25.”

The transaction was a 1031 exchange, a real estate investing tool that allows investors to swap out one investment property for another and defer capital gains or losses or capital gains tax that they otherwise would have to pay at the time of sale.