Tampa, FL - 7-Eleven

Description:

• 7-Eleven has 14+ years remaining on the lease, with five 5-year renewal options, demonstrating its long-term commitment to the site
• The lease features annual 1.04% rental increases throughout the primary term and each option period, driving NOI growth and providing a built-in hedge against inflation
• The lease is signed by 7-Eleven, Inc., investment grade (S&P: A-), a globally recognized and established convenience store/gas operator (14,000+ U.S. sites)
• Fee-simple ownership of a convenience store may qualify for accelerated depreciation (see page 9 for additional details). Please consult with a qualified tax advisor regarding potential tax benefits.
• In April 2014, 7-Eleven’s $1.8B acquisition of Sunoco, LP was announced, approved by shareholders in August 2014, and finalized in January 2018; the transaction included the acquisition of roughly 1,108 stores across 18 states
• More info HERE and HERE

• Strategically located at the signalized hard corner of Palm River Road and US-301 with 70,000+ VPD, and convenient access to I-75 with approximately 145,000 VPD
• The site is located near several regional shopping destinations, including Regency Square, anchored by major retailers such as Five Below, Best Buy, Petco, AMC Theatres, Marshalls, and more; Brandon Town Center, anchored by Target and Ross Dress for Less; and Brandon Exchange, featuring tenants such as Dick’s Sporting Goods, Apple, and other national retailers
• The surrounding trade area benefits from exceptionally strong retail performance, with several nearby national retailers ranking among the top-performing locations in Florida
• Bass Pro Shops: $70.1M in annual sales | #1 of 12 in Florida
• Best Buy: $48.3M in annual sales | #6 of 52 in Florida
• Topgolf: $25.6M in annual sales | #1 of 9 in Florida
• Ulta Beauty: $8.8M in annual sales | #7 of 104 in Florida
• Michaels: $5.9M in annual sales | #3 of 77 in Florida

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Listing ID: a28TP000003LV5VYAW