January 11, 2022 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a Sheetz in Leesburg, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $6,660,000.
Sheetz is located at 601 California Drive NE in Leesburg, Virginia. The property was constructed for Sheetz in 2020 and features a 7,000 square foot convenience store and six fuel stations (12 pumps) on 2.142 acres of land. Sheetz has 18+ years remaining on their corporately backed, ground lease (Absolute NNN) with five (5), 5-Year Options. The lease features attractive 10% rent increases every five years throughout the primary term and at the start of each of the option periods. The Property is well located at the signalized intersection of Battlefield Parkway and Fort Evans Drive NE with frontage along both routes and two means of access. The Property is one-half-mile east of the busiest intersection in Leesburg, Battlefield Parkway and Route 7. Route 7 is a major primary state highway and busy commuter route in northern Virginia, and this interchange was just re-engineered to provide full North-South-East-West access to accommodate the 89,000 vehicles that intersect here each day.
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.