7-Eleven

7-Eleven signed a 15-year absolute net corporate lease for a 2021 convenience and fuel location in Denton, Texas.  The tenant is anticipated to open for business on November 23, 2021.  The Property features a 3,010 SF masonry construction convenience store with a highly visible illuminated two-sided pylon sign and twelve 7-Eleven branded gas pumps on approximately 1.54 acres of land.  7-Eleven’s primary term lease runs through November 2036 with 10% rent escalations every 5 years with four, 5-year renewal options and zero landlord responsibilities. Located approximately 45 minutes north of downtown Dallas and downtown Fort Worth, the Property sits at the signalized hard corner intersection of Loop 288 (U.S. 380 Truck) and Sherman Street (FM 428) with combined traffic counts in excess of 30,200 vehicles per day.   The average household income exceeds $109,300 within a 1 miles radius. 7-Eleven, Inc. corporate credit is rated “A“ by S&P and “Baa2” by Moody’s, both considered investment grade.