In a deal that shows the continuing strength in certain parts of the net lease sector, 17 7-Eleven properties on 17.373 total acres sold to a private buyer for $71.5 million.
Camille Renshaw, CEO and Founder of B+E, the brokerage firm that announced the sale-leaseback deal on Wednesday, July 15, couldn't reveal the private fund that bought the properties or the location of the assets. The properties are operated by the Monfort Cos. and under a new, 15-year lease.
Renshaw did say that 7-Eleven credit quality was attractive for the buyer. "The way 7-Eleven leases work is they mutually guarantee the lease with the operator," she says.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
