The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased 7-Eleven property located at 9 Fort Salonga Road in Northport, New York for $5,486,000.
The 2,994 square foot newly constructed property benefits from its position along Fort Salonga Road (15,607 VPD) which is a primary east and west thoroughfare. The property is also across from Fort Salonga Shopping Mall. Retailers in the area include, CVS Pharmacy, IGA Supermarket, Chase Bank, Fort Salonga Animal Hospital and many more. There are 99,925 people living within five miles of the property earning an average annual income of $164,569.
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction who was a northeast based real estate investor in a 1031 exchange. The seller was a northeast based real estate company.
7-Eleven recently signed a 15-year lease. The lease features renewal options with 10% rental escalations every five years. This is a rare opportunity to acquire irreplaceable real estate. 7-Eleven is the world’s largest convenience store chain operating, franchising, and licensing around 64,319 stores in 18 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.
“Single tenant 7-Eleven properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Partner of The Boulder Group, added, “Well located assets in affluent markets are at the forefront of 1031 exchange investor’s acquisition criteria.”
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 $5 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.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States