7-Eleven

7-Eleven signed a 15-year absolute net corporate lease for a 2020 convenience and fuel location in Mesquite, Texas.  The tenant is anticipated to open for business on December 3, 2020.  Positioned less than 15 minutes east of Downtown Dallas, 7-Eleven sits at the signalized hard corner of Military Parkway and Town East Boulevard on approximately 1.40 acres of land.  The Property consists of a 3,137 SF convenience store and eight 7-Eleven braded gas pumps.  The lease features 10% rent escalations every 5 years including each of the four, 5-year renewal options and zero landlord responsibilities.  7-Eleven, Inc. corporate credit is rated “AA-“ by S&P and “Baa1” by Moody’s, both considered investment grade.  Favorably priced under $3,533,000, the Property is among the lowest price point new construction 7-Eleven assets available in DFW as of Q4 2020.