In a deal that shows thecontinuing strength in certain parts of the net lease sector, 177-Eleven properties on 17.373 total acres sold to aprivate buyer for $71.5 million.
Camille Renshaw, CEO and Founderof B+E, the brokerage firm that announced the sale-leaseback dealon Wednesday, July 15, couldn't reveal the private fund that boughtthe properties or the location of the assets. The properties areoperated by the Monfort Cos. and under a new, 15-yearlease.
Renshaw did say that 7-Elevencredit quality was attractive for the buyer. "The way 7-Elevenleases work is they mutually guarantee the lease with theoperator," she says.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
