A brand new 7-11 has sold for a whopping record – Business News
Just weeks after the primary 7-Eleven in Madera, California opened its doorways, it has sold to a new purchaser for a record sum.
The 7-Eleven at 3720 Avenue 17 in Madera opened in late April, simply throughout from an Arco gasoline station on Golden State Boulevard.
Now the property has sold for $12.18 million, the best price ever for a single-tenant 7-Eleven sold in California historical past, in accordance with Hanley Investment Group Real Estate Advisors.
Just weeks after the primary 7-11 in Madera, California opened its doorways, it has sold to a new purchaser for a record sum.
The 7-11 at 3720 Avenue 17 in Madera opened its doorways in late April, simply throughout from an Arco gasoline station on Golden State Boulevard. Google Maps
Hanley represented the sellers, Stock Five Development Company out of Clovis, with San Diego’s Kidder Matthews representing the client, a non-public investor within the Bay Area.
The 7-Eleven was the primary ever in Madera, with a 7-Eleven Facebook post on April 23 asserting that it was now open for business.
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Hanley’s Sean Cox revealed he “identified a 1031 exchange buyer that was specifically seeking a single‑tenant 7‑Eleven and sourced this off‑market opportunity through a longstanding developer relationship.”
“This prototype is the first of its kind to sell in California as a single-tenant asset, which made the execution even more meaningful for all parties involved,” Cox added.
The 7-11 was the primary ever in Madera, with a 7-11 Facebook post on April 23 asserting that it was now open for business. 7-Eleven
The location in Madera additionally comes with a industrial diesel fueling station, together with EV charging stations as effectively.
The 4,644 sq. foot store sits on a 4.04 acre lot, with Hanley’s Bill Asher including, “This sale set a new benchmark for the 7‑Eleven brand in California.”
“The combination of a new 15‑year triple-net lease, expanded fueling program, and a prime location adjacent to State Route 99 and future home of North Fork Mono Casino, were highly attractive selling points for the buyer,” Asher added.
The location can be simply throughout the road from the Madera Municipal Airport, and simply south of the on line casino, which is slated to open this fall, in accordance with its official web site.
The sale comes after the project took 4 years to finish, which concerned painstaking infrastructure work together with fuel design and a thorough environmental review.
The sale continues Hanley’s involvement in 7-Eleven gross sales, with latest transactions in Clovis, San Bernadino and Sacramento.
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