NEW 15-YEAR LEASE EXTENSION (EXECUTED EARLY)
7-Eleven recently agreed to an early lease extension providing nearly 15-years remaining. 7-Eleven agreed to extend the lease by 11-years while there were approximately 4-years remaining on the original 20-year lease.
ABSOLUTE NNN GROUND LEASE WITH RENT INCREASES
The subject property operates under an Absolute NNN Ground Lease with no landlord management or maintenance responsibilities whatsoever and 10% rent increases in 2030 and each of the three, 5-year option renewal periods.
WELL-ESTABLISHED 7-ELEVEN IN AN AFFLUENT WASHINGTON, D.C. SUBURB ($177,284 AVG HHI)
Accokeek, MD is an affluent suburb of Washington, D.C. situated approximately 17 miles south of downtown Washington, D.C. The subject property is an outparcel to a well-established Giant Supermarket with excellent visibility and access along Berry Road (36,240 VPD). There are exceptional demographics in the region with average household incomes of $177,284 within a 1-mile radius of the subject property.
7-ELEVEN, INC. CORPORATE LEASE | INVESTMENT GRADE TENANT(1,2)
•$61 Billion in revenue in 2020 / Ranked #178 on Fortune Global 500 List in 2020
•Over 77,000 locations in 16 countries and regions and 16,000 stores in North America
•Investment Grade Tenant – S & P Rated AA- / Stable & Moody’s Rated Baa2 / Stable
•Acquired U.S. Company Marathon Petroleum Corporation (Speedway) Convenience Store and Fuel Retail Businesses Operation in May 2021 – 3,800 stores across 36 states
•Ranked #1 on Entrepreneur’s “Best of the Best” and #9 on Franchise 500 Lists in 2021
(1) All financial data shown above is for Seven & i Holdings Co., Ltd., the parent company.
(2) Buyer will need to verify the accuracy of all information shown above during their Due Diligence period.
Sources: www.7andi.com, Yahoo Finance, Standard & Poor’s, Moody’s