December 9, 2021 – Kyle Danielson of Horvath & Tremblay have successfully completed the sale of 7-Eleven in Gloucester, Virginia. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,150,000.
7-Eleven is located at 8343 George Washington Highway in Gloucester, Virginia. 7-Eleven has been at this location since 2008 (13 Years) and recently extended their Triple-Net, Corporate lease, demonstrating their commitment to the site and the market. 7-Eleven has 7+ years of term remaining on their lease with three (3) additional 5-year renewal options. The lease features a 10% rent increase at the start of each renewal option. 7-Eleven has recently replaced the underground Fuel Storage Tanks and completed significant renovations to the fueling station canopy. The Property benefits from a central location along George Washington Memorial Highway (US Highway 17), the area’s primary highway running through Gloucester County, Virginia. The Property is well located and enjoys a corner lot at the intersection of George Washington Memorial Highway and Beaver Drive, allowing for convenient access from both directions of the highway. 7-Eleven is less than ¼-mile from the Riverside Walter Reed Hospital and the Walter Reed Plaza, anchored by Food Lion, the area’s primary grocery store.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.