Stan Johnson Company Brokers 1031 Exchange Sale of 7-Eleven Convenience Store Near San Francisco, California

7-11-Matter

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a retail convenience store and gas station leased to 7-Eleven. Located at 3868 Delaware Drive in Fremont, California in the San Francisco Bay area, the 2,400-square-foot property sold at a 3.25 percent cap rate. Mike Matter of Stan Johnson Company represented the seller in a 1031 exchange. The property was acquired by a California-based private investor for approximately $2.3 million.

“There was significant interest in the offering due to the location having high barriers to entry, a short-term lease and low relative rents,” said Matter, Director in Stan Johnson Company’s Newport Beach, California office. “We were able to generate seven offers and ended up selling over the list price.”

7-Eleven has occupied the property since it was originally built in 1977. The site is situated on 0.5 acres in a dense residential area just north of an industrial complex with national operators including the 4.4 million-square-foot Tesla manufacturing center. The tenant operates on a corporate guaranteed triple net lease.

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.