Hanley Investment Group Negotiates Sale of Four Single-Tenant 7-Eleven Stores in Erie County New York

IRVINE CALIF. – Hanley Investment Group a nationally-recognized boutique real estate brokerage and advisory firm specializing in retail property sales announced today that Senior Vice President Jeremy McChesney negotiated the sale of four single-tenant absolute NNN 7-Eleven stores in Erie County New York totaling nearly $3 million. McChesney currently has two other East Coast 7-Eleven stores in escrow and two additional ones available for sale. 7‑Eleven Inc. is the world’s largest convenience store chain with some 55000 stores in 16 countries of which more than 10400 are in North America and the company has more outlets than any other retailer or food service provider.

“Investor demand remains high for quality single-tenant retail properties” said McChesney.  “And with the lack of high quality single-tenant inventory these four sales are representative of West Coast capital moving east in search of a better return.”

In Buffalo NY McChesney negotiated the sale of two 7-Eleven stores working with both the same buyer a private investor from Tacoma WA and the same seller a local investor from Buffalo NY.  Near the intersection of Kenmore Avenue and Pickford Avenue in Buffalo McChesney completed the sale of a 2835-square-foot 7-Eleven store at 741 Kenmore Avenue for $800000. Built in 1994 the 7-Eleven building is situated on a .26-acre parcel.

“The buyer purchased two single-tenant NNN absolute 7-Eleven stores in Buffalo from the same seller to meet his 1031 Exchange requirements” said McChesney. The other property a 2842-square-foot 7-Eleven was located on 975 Abbott Road in Buffalo NY near the intersection of Kimberly Avenue and Abbott Road. Built in 1992 the 7-Eleven building is situated on a .47-acre parcel. The purchase price was $800000.

McChesney negotiated the sale of a third 7-Eleven at 959 Niagara Street in Buffalo. Built in 1986 the 7-Eleven building is situated on a .36-acre parcel. The purchase price was $851000. Michael Chow of Jones Pacific Land Company in San Francisco represented the buyer a private investor from the San Francisco Bay Area. McChesney represented the seller a local private investor from Buffalo NY.

In South Wales NY McChesney negotiated the sale of a 2080-square-foot 7-Eleven store at 6444 Olean Road near the intersection of Olean Road and East Emery Road. Built in 1972 the 7-Eleven building is situated on a 1.35-acre parcel. The purchase price was $525000. The buyer a private investor from San Francisco Calif. was also represented by Michael Chow of Jones Pacific Land Company in San Francisco. The seller a private investor from Hermosa Beach Calif. was represented by McChesney. 

Last year McChesney sold multiple 7-Eleven single-tenant investments including stores in Norfolk Virginia; Capitol Heights Maryland; and Santa Barbara Calif.

“With an AA- credit rating and zero land responsibilities single-tenant 7-Eleven stores continue to be one of the most highly sought-after retail investments in today’s market. These sales highlight the strong appetite investors have for high quality investment grade net-lease properties and investors willingness to look in major metros across the country” said McChesney.

About Hanley Investment Group 
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide who works closely with individual investors lending institutions developers and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information visit www.hanleyinvestmentgroup.com. 

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City: Irvine

State: California

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