7-Eleven

7-Eleven signed a 15-year absolute net corporate lease for a 2022 convenience and fuel location in Tyler, Texas.  The tenant had its grand opening on May 17th, 2022.  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 two-sided digital 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, IHOP and Wingstop amongst others.