Hanley Investment Group Sells 7-Eleven in Denver, CO
Record Breaking Cap Rate for Single-Tenant 7-Eleven in State of Colorado
IRVINE, CALIF. – October 15, 2014 – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the United States and a market leader in the sale of retail properties, announced today that Jonathan Selznick, senior vice president and Jeff Hauber, associate at Hanley Investment Group, negotiated the sale of an absolute NNN single-tenant 7-Eleven in Denver, Colo. The purchase price was $1,880,000, which represented a 4.60% capitalization rate, one of the lowest for a single-tenant 7-Eleven on record in the state of Colorado.
Selznick and Hauber represented the seller, a private investor from Frisco, TX, in the sale transaction. The buyer, a private investor, was represented by Drew Issac of Marcus and Millichap in Denver. The 2,900-square-foot 7-Eleven, which was built in 2012, is situated on a 0.34-acre parcel at 450 Federal Boulevard in Denver. The property is located 1.5 miles south of Sports Authority Field at Mile High and within 3 miles of Downtown Denver.
“The 4.60% cap rate achieved in the disposition of this asset speaks to the continued demand for high quality absolute NNN single-tenant assets with strong credit tenancy, particularly in the sub-$2 million price point in major markets across the U.S.,” said Selznick.
“While there was not an abundance of investors who were eager to accept this low of a yield for an asset of this quality, I knew that exhibiting a bit of patience would pay off in the long run,” said Selznick. “We found the perfect buyer; a local investor familiar with the location and the trade area. The subject property was a seamless fit to complete their 1031 exchange.”
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment brokerage firm with a $4+ billion transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the clients’ needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.
