Lake Wales investors buy Dollar General store

BUYER: 1011 Immokalee LLC (principals: Christopher, Gail and Story Bach), Immokalee

SELLER: SR 29 LLC

PROPERTY: 1011 15th St. N., Immokalee

PRICE: $2.05 million

PREVIOUS PRICE: $385,000, July 2011

LAW FIRM ON DEED: Isicoff Ragatz & Koenigsberg PL, Miami

PLANS, DESCRIPTION: Christopher, Gail and Story Bach of Lake Wales purchased a 9,100-square-foot retail building on 15th Street for $2.05 million.

The price equated to $225 per square foot.

The less than 1-year-old building and 0.96-acre site is leased to Dollar General.

The discount retailer has a 15-year triple-net lease on the property, obligating Dollar General to maintain the building and pay the real estate taxes and building insurance. The agreement also allows for six, five-year renewal lease options with rent increases.

The Business Review was unable to contact the Bachs for comment prior to deadline.