Oregon Net Lease 7-Eleven Property Sale Arranged Date April 18, 2018
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Oregon net lease 7-Eleven property located at 1516 NE Killingsworth Street in Portland, Oregon for $2,290,000.
The 3,000 square foot Oregon net lease 7-Eleven is located in a dense infill location in Portland. There are over 152,800 people living within a three-mile radius of the property. The 7-Eleven is a strong performing store as evidenced by a recent lease extension. There were over 12 years remaining on the lease.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; an East Coast-based real estate fund. The purchaser was a 1031 Oregon based private investor.
7-Eleven signed a lease extension adding an additional ten years to the initial term that will expires June 30, 2030 . The absolute triple net lease has a 10% rental escalation in the initial term and each 5-year renewal option period. 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-.
“Single tenant 7-Eleven properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “E-commerce resistant retailers including 7-Eleven continue to be in high demand amongst investors.”
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 2012-2017, 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.com