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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
7-Eleven is the world\u2019s largest convenience store chain operating, franchising and licensing more than 70,000 stores in 17 countries. 7-Eleven is also one of the nation\u2019s largest independent gasoline retailers and was ranked #1 by Entrepreneur Magazine in the 2017 annual \u201cFranchise 500\u201d ranking.<\/p>\n
\u201cNew construction properties with long lease terms continue to be in high demand amongst investors\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cSingle tenant 7-Eleven properties continue to garner significant interest due to tenant\u2019s credit and long-term lease.\u201d<\/p>\n