Despite the persistent higher interest rate environment, SRS has noted that the absorption of 7-Eleven assets continues to outpace comparable credit tenants such as drug stores and coffee brands.

Consistently SRS has seen over the last 12 months that cap rates for 7-Eleven stores have held steady. Moreover, across all transactions, the CRE agency has not seen values erode or cap rates rise as much for this well-known C-store brand.

Over the past 18 months, the firm sold a total of 33 properties occupied by 7-Eleven valued at $242 million with an average cap rate of 5.27%. The transaction performance has been consistent across the nation including assets sold in California, Colorado, Connecticut Florida, Nevada, New York, New Jersey, North Carolina, South Carolina, Oklahoma, Tennessee, and Texas. Also, there are additional properties on the market in California, Florida, New Jersey, North Carolina, South Carolina, Tennessee, and Texas. All the assets are single-tenant properties with 12 or more years remaining on the lease term.