Hanley Investment Group Holds Presale of All-New 7-Eleven Single Tenant Gas Station in Santa Rosa, Calif. For Record Selling Price of $ 8 Million

SANTA ROSA, CA – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in the sale of retail properties, today announced that the company has held a pre-sale for an all-new build, a single tenant net leased investment occupied by 7 -Eleven with a gas station in Santa Rosa, California. The single-tenant 7-Eleven is conveniently located on the College Avenue slip road on US Highway 101. The sale price was $ 8 million, which was a nationwide record sale price for a 7-Eleven and a 4.37% cap rate.

Hanley Investment Group executive vice president Jeremy McChesney represented seller and developer, California Capital Investment Group in Pleasant Hill, California. The buyer, an El Dorado Hills-based private investor, was represented by Chris Fenolio, a partner at Weller Partners LLP in San Francisco, California.

“We identified the buyer before we began to market this desirable trophy asset and hit a record price for the sale of a brand new corporate 7-Eleven with an absolute triple net long-term lease,” said McChesney. “Both seller and buyer of the exchange were extremely happy with the outcome. ”

The 2,988 square foot 7-Eleven building and gas station is located on 0.67 acres at 136 College Avenue in Santa Rosa, at the signposted and hardened intersection of College Avenue and Highway 101 slip road. The property enjoys more than 155,475 vehicles per day on Highway 101 and 32,750 vehicles per day along College Avenue, according to McChesney. Within a five mile radius, there are over 200,000 people with a family income of over $ 103,000 per year and over 20,300 people work within a one mile radius of the property.

“What started in a cooler in Dallas, Texas in 1927 has grown into the world’s largest retailer,” McChesney said. “Today, 7 – Eleven, based in Irving, Texas, operates, franchises and / or licenses more than 77,000 stores in 19 countries and regions, including nearly 16,000 in North America. 7 – Eleven, Inc. operates the Speedway, Stripes, Laredo Taco Company, and Raise the Roost Chicken and Biscuits stores.

7-Eleven was the first convenience store to offer ATM services and sell gasoline. It was also the first convenience store to stay open 24/7, according to 7-Eleven.

“7-Eleven is one of the largest and most successful retailers in the United States, and the company’s operational success as a critical business during the pandemic has further enhanced the attractiveness of this quality tenant. investment, ”said McChesney. “As investors look to the future and worry about the economic instability and any future bottlenecks associated with the pandemic, buyers are turning to critical companies with high credit scores like 7-Eleven who can do well in tough times and provide reliable cash flow. ”

McChesney continues, “We expect sales volume for net leased 7-Eleven single-tenant commercial investments to remain high in 2022.” McChesney has sold nearly 60 7-Eleven properties, including 25 in the past 36 months, assessed. to $ 81.3 million.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory firm with a transaction history of $ 8.6 billion that specializes in the sale of commercial properties nationwide. Our expertise, proven track record and unwavering dedication to putting customer needs first sets us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property specific marketing strategies, cutting edge technology and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers are unparalleled in the industry, resulting in maximum exposure and pricing for every property. With unparalleled service, Hanley Investment Group has redefined the experience of selling investment property at retail.

For more information, visit www.hanleyinvestment.com.

Media contact
Company Name: Hanley Investment Group Realty Advisors
Contact: Jeremy McChesney, Executive Vice President
E-mail: Send an email
Call: 949.585.7671
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/

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