The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant 7- Eleven located at 7480 North State Highway 161 in Irving, Texas for $4,575,000.
The recently constructed 4,650-square-foot property is strategically located just off State Highway 161, which sees 149,722 vehicles per day, and Interstate 635, with 129,730 vehicles per day. It is just minutes from Dallas International Airport and situated in an affluent area where over 238,000 people live within a five-mile radius. The average household income exceeds $156,000 within one mile. The property is in a dense retail corridor surrounded by prominent tenants such as Target, Kroger, Michaels, Lifetime, Ross, T.J. Maxx, Home Goods, Whole Foods, and more. Additionally, major employers in the area include CitiBank, AT&T, Medical City Las Colinas, and ExxonMobil.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller was a Texas based partnership and the buyer was a New York based individual in a 1031 exchange.
There are fifteen years remaining on the 7-Eleven lease. The lease features 10% rental escalations in each of the 5-year renewal option periods. 7-Eleven is an investment grade rated company with a Standard & Poor’s rating of AA.
“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The market for new construction net leased C-stores remains active as they offer a stable investment and bonus depreciation.”
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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
More info: www.bouldergroup.com
Media ContactCompany Name: The Boulder GroupContact Person: Randy BlanksteinEmail: Send EmailPhone: 8478816388Address:3520 Lake Avenue Suite 203City: WilmetteState: IllinoisCountry: United StatesWebsite: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
