Jeremy McChesney, executive vice president of Hanley Investment Group Real Estate Advisors, has completed the sale of three 7-Eleven properties in separate transactions for a combined value of $4.227 million. The properties are located in Valley Park, Missouri; Bradenton, Florida; and Lakewood, Ohio.
McChesney has now completed the sale of 26 7-Eleven properties in just more than two-and-a-half years, the most 7-Elevens sold by one individual in the United States during this same period.
In Valley Park, Missouri, McChesney arranged the sale of a single-tenant retail property occupied by 7-Eleven with a gas station at 13515 Big Bend Road with eight years remaining on the primary term of the corporate-guaranteed, absolute triple-net lease with three five-year options and 10 percent increases.
Built in 1998, the 2,193-square-foot building and gas station sits on 0.59 acres. The purchase price was $1.967 million. The buyer was a private investor from Dublin, California, represented by Matt Lemon and Suheil Sahouria of The Trafton Group of San Mateo, California. McChesney represented the seller, Equitas Investments of Hermosa Beach, California.
In Lakewood, Ohio, McChesney arranged the sale of a single-tenant 7-Eleven store with seven years remaining on the primary term of the absolute triple-net lease. The corporate-guaranteed lease included two five-year options with 10 percent rental increases. The 2,410-square-foot building, which was built in 1975 on .29 acres, is located at 16165 Hilliard Road at the signalized intersection of Olive Avenue and Hilliard Road in Cuyahoga County.
The purchase price was $885,000. The buyer, a private investor from Encino, California, was represented by Matt Waterman of Pegasus Investments, also from Encino. McChesney represented the seller, Equitas Investments of Hermosa Beach, California.