The Greysteel Company's single tenant net lease investment group, led by Vice President Peter Snell, has been named exclusive advisor and agent for a ground lease 7-Eleven in Aberdeen.
The offering, which is priced at $1,738,057 (5.25 percent cap), includes a 2,940-square-foot 7-Eleven convenience store and gas station constructed in 1999. The property is leased to 7-Eleven Inc., the nation's largest convenience store retailer which has an investment grade AA- credit.
On Route 40, the property enjoys superior visibility on the four-lane highway with a traffic count of more than 33,000 vehicles per day. Less than a mile north of the property are the gates to the Aberdeen Proving Ground, as well as the Aberdeen MARC commuter rail station. Commercial and retail neighbors include Precision Tune Auto Care, America's Best Value Inn & Suites, Golden Corral and Walmart.
"Current demand for high-quality net leased assets is greatly outpacing supply leading to multiple offers on properties leased to strong national retailers such as 7-Eleven" Snell said.Copyright © 2014, The Baltimore Sun