The Boulder Group completes sale of net lease 7-Eleven property for $5 million

Haverstraw, NY The Boulder Group completed the sale of a single tenant net leased 7-Eleven property located at Gurnee Ave. and Rte. 9 West for $5 million.

The 7-Eleven is located at the corner of a signalized intersection along U.S. Rte. 9 West which hosts over 17,000 vehicles per day. Tenants along the retail corridor include ALDI, Tractor Supply Company, ShopRite, Ford, Sherwin-Williams, McDonald’s, Dollar General, and AutoZone. Continual traffic is drawn to the area by several parks including High Tor State Park, Safe Harbor Haverstraw, and the Hudson River. The 7-Eleven is also within proximity to Westside Ave. (20,130 VPD) and Palisades Interstate Pkwy. (54,252 VPD).

President Randy Blankstein and partner Jimmy Goodman of The Boulder Group represented the seller who was a northeast based real estate developer. The buyer was a New York based individual investor in a 1031 Exchange.

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 net lease investors” said Blankstein. 

Goodman said, “Despite the large supply of 7-Eleven properties on the market, locations with solid real estate fundamentals continue to transact.”