New York, New York, February 12, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a freestanding 7-Eleven convenience store located at 3200 Chambers Road in Aurora, Colorado.
The 3,010-square-foot single-tenant retail building was purchased by California-based Xanadu Properties LLC for $2.8 million on January 31, 2019. Stan Johnson Company’s Tom Georges and Jon Cohen represented the buyer.
“Our client was in a 1031 exchange and was attracted to the property because of the quality of 7-Eleven’s credit, the longer lease term, and solid real estate fundamentals,” said Tom Georges, Director in Stan Johnson Company’s New York office.
The seller, Dallas, Texas-based Chamber Crossing LLC, was represented by Trivanta’s Matt Scow. The property traded at a 5.12 percent cap rate and has a triple net lease in place.