John Thomas closed on the Select Exclusive offering of the 7-Eleven, new 15 year NNN leased offering in Fort Salonga, NY. The property was nationally marketed and sold for a 4.375% cap at a price of $5,486,000.
- Newly constructed (2022) and rare Long Island 7-Eleven offering in high barrier-to-entry Suffolk County market
- NNN lease offering 15 years of primary term and 3 five-year options
- 10% rental increases every five years throughout primary term as well as through the option periods
- Single tenant NNN lease with no Landlord responsibilities
- Corporate Guarantee – 7-Eleven, Inc.
- Standard & Poor's Investment Grade Credit Rating of A
- Well positioned with vehicular access to two thoroughfares;