Pinnacle Real Estate Advisors Arranges Sale of Single Tenant 7-Eleven Property in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a single tenant net leased 7-Eleven located at 1200 West Alameda Avenue in Denver, CO for $3,050,000. This property was recently constructed in 2018.
The 3,000 square foot 7-Eleven is strategically positioned at a signalized intersection along Alameda Avenue within one block of Interstate 25 which experiences traffic counts in excess of 217,000 vehicles per day. The surrounding area is rapidly expanding with projected 2.0% annual population growth within a three-mile radius over the next five years.
The corporately guaranteed lease features rental escalations every five years. 7-Eleven is the world’s largest convenience store with more than 64,000 stores worldwide. 7-Eleven is an investment grade rated company with a Standard and Poor’s rating of AA-.
Pinnacle Principals Rob Edwards and Tom Ethington, of the Edwards| Ethington Team, represented the seller in the transaction, a Colorado developer. The purchaser was a local Colorado buyer and was represented by Jeffrey Hirschfeld with Antonoff & Co. Brokerage, Inc..
“New construction single tenant properties continue to be highly sought-after investments, evidenced by our ability to go under contract near full price prior to marketing the property,” stated Edwards.