Marcus & Millichap Real Estate Investment Services now has the exclusive listing to market a single-tenant, corporate ground lease portfolio of 11 Michigan 7-Eleven locations.
Simon Jonna, a vice president of investments, and Raymond Jonna, an associate, both in Marcus & Millichap’s Detroit office, are representing the seller, a private partnership.
“This is a rare opportunity to purchase a 100-percent occupied portfolio of 11 recently built stores with corporate-backed simple ground leases, all delivered free and clear and all located in high-traffic, high-exposure locations within densely populated areas,” Simon Jonna said. “The leases all carry a rating of AA- from Standard & Poor’s, and with 10 percent rent increases every five years—except for one lease that has 12.5 percent increases—plus option periods, this portfolio represents a conservative and reliable revenue stream.”
