Net Lease 7-Eleven Property in Texas Sale Arranged Date September 5, 2017
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease 7-Eleven property located at 6001 Airport Freeway in Haltom City, Texas for $2,875,000.
The net lease 7-Eleven property is strategically located at the intersection of Airport Freeway (US-121) and Carson Street, a heavily trafficked intersection that experiences traffic counts of 99,050 vehicles per day. The 7-Eleven has direct access on and off of Airport Freeway which is a primary east-west thoroughfare providing the only direct access to Fort Worth and the Dallas Fort Worth International Airport. The 7-Eleven is in the heart of the Fort Worth manufacturing and distribution corridor. The site is adjacent to a regional distribution center for Applied Industrial Tech (NYSE: AIT), one of North America’s largest companies focused on the manufacturing and sale of industrial parts and fluid power components. Additional industry leaders with operations based in the immediate area include Ram Tool & Supply, WESCO International, Teletouch Communications, Southwest Gloves & Safety Equipment, and Walden’s Distributing.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; an East Coast based real estate investment trust. The purchaser was a West Coast-based real estate investment group.
7-Eleven signed a lease extension adding an additional ten years to the initial term that will expire April 31, 2032. The lease is an absolute triple net and features three 5-year renewal options with 10% rental escalations. 7-Eleven is the world’s largest retail store chain with more than 56,600 locations throughout the world. 7-Eleven is an investment-grade rated company with a Standard & Poor’s rating of “AA-.”
“The market for net lease properties in top tier MSAs remains active as these assets are in high demand among private investors,” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Single tenant net lease properties in income tax-free states are in high demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack