June 25, 2024 – Jack Laurendeau, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a 7-Eleven in Virginia Beach, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,530,450.
The 7-Eleven is located at 920 Level Green Boulevard in Virginia Beach, Virginia. 7-Eleven has been at this location since 2014 (10 years) and recently extended their Corporate Absolute NNN Lease, demonstrating their commitment to the site and the market. 7-Eleven has 15 years of term remaining on their lease. The lease calls for an attractive 10% rent increase every five years throughout the lease term, providing a steady increase in income and an attractive hedge against inflation. The Property is positioned along Level Green Boulevard, seconds from the signalized intersection of Indian River Road and Providence Road, two of the area’s primary commuter and commercial corridors. 7-Eleven is less than 0.75-miles from US Highway 13 and Interstate 64. The densely populated area is home to Regent University (1-mile away) and numerous national retailers and restaurants that drive traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.