7-Eleven

7-Eleven signed a 15-year absolute net corporate lease for a convenience and fuel location in Tyler, Texas, with lease commencement in 2022.  The Property is priced significantly below replacement cost with ground up development costs for brand new construction Texas 7-Eleven's at an all-time high and multiple assets on the market in excess of $7,000,000.  Located 7 minutes from Downtown Tyler, the Property sits at the signalized hard corner intersection of Loop 323 and Van Highway (State Highway 110) with combined traffic counts in excess of 37,000 vehicles per day. 7-Eleven features a 4,842 SF convenience store with two highly visible pylon signs, multiple ingress/egress points and fourteen, 7-Eleven branded gas pumps located on an oversized 1.78 acre parcel.  The lease features 10% rent escalations every 5 years with four, 5-year renewal options and zero landlord responsibilities.  7-Eleven, Inc. corporate credit is rated “A“ by S&P and “Baa2” by Moody’s, both considered investment grade.  The Property benefits from Laredo Taco Company, excellent visibility on a signalized hard corner with access points along Loop 323, Van Highway and Garden Valley Road as well as a favorable location minutes from Walmart Supercenter (just minutes south). Other national area retailers include Family Dollar, Dollar Tree, Walgreens, Chase Bank, Starbucks, Aldi, CubeSmart Self Storage IHOP, Atwoods, Dairy Queen, Rent-A-Car, McDonalds, Taco Bell and Wingstop amongst others.