April 14, 2022 – Hobart Hare and Daylan Skidmore of Horvath & Tremblay have successfully completed the sale of 7-Eleven in Westlake, Florida. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $12,192,000.
7-Eleven is located at 4965 Seminole Pratt Whitney Road in Westlake, Florida. This is a new construction 7-Eleven that was completed in 2021. The property consists of a 4,650 square foot 7-Eleven convenience store with a gas station and on-site car wash on 2.47-acres of land. 7-Eleven has a new 15-year corporate guaranteed Absolute NNN lease followed by four, 5-Year renewal options. The lease calls for an attractive 10% rent increases throughout the base term and at the start of each renewal option. 7-Eleven is strategically located at the signalized intersection of Seminole Pratt Whitney Road and Persimmon Boulevard in the heart of Westlake, one of Florida’s newest communities. Once fully developed, Westlake will be a 3,800-acre master planned city with more than 4,500 homes and a plethora of national retailers and restaurants. Universal Health Systems will be developing a 35-acre Regional Medical Center nearby, and there is a Publix anchored shopping center being constructed adjacent to 7-Eleven. The Property is also less than 1-mile from Seminole Ridge High School.
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.