7-Eleven Net Lease Property Sale Arranged Date August 17, 2021
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction 7-Eleven net lease property located at 11624 Ocean Gateway in Ocean City, Maryland for $6,179,837.
The 7-Eleven net lease property is located at the corner of a signalized intersection along US-50 (31,500 VPD) which is a primary east-west thoroughfare that connects Salisbury to Ocean City. Ocean City is a popular beach destination with approximately 8 million visitors annually. The 7-Eleven property is positioned in a retail corridor with tenants such as Walmart Supercenter, The Home Depot, PetSmart, Ross, Michaels and Tanger Outlet Mall. The property is within close proximity to the Ocean Downs Casino and Racetrack which has driven continual traffic through the corridor since 1949. The average household income within five miles of the property is in excess of $91,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The buyer was an individual based in the northeast and the seller was a private real estate firm.
7-Eleven is the world’s largest convenience store chain operating, franchising and licensing more than 70,000 stores in 17 countries. 7-Eleven is also one of the nation’s largest independent gasoline retailers and was ranked #1 by Entrepreneur Magazine in the 2017 annual “Franchise 500” ranking.
“New construction properties with long lease terms continue to be in high demand amongst investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant 7-Eleven properties continue to garner significant interest due to tenant’s credit and long-term lease.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2020, 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