7-Eleven Acquires Speedway Locations / More NNN 7-Eleven Options

in this episode of net lease tv

chris discusses 7-elevens plans on

paying 21 billion to acquire the gas

station chain

speedway from marathon petroleum

chris marbella marbella commercial

finance i'm here at a 7-eleven property

we financed a couple years back with a

with a car wash here in san diego

you can hear the car wash in the

background it's monday august 17

2020 we're super excited about 7-elevens

growth prospects

they most recently acquired 3 900 stores

from marathon petroleum they purchased 3


of their speedway properties they also

acquired about a thousand

properties from sunico a couple years

back for 3.3 billion

we think this will definitely add to the

supply of 711

convenience stores gas stations that are

available for sale

for 1031 buyers we like the fact

711 has a double a minus rated bond

rating with standard and force

so you've got a strong tenant right now

cap rates are between four to five


depending on the remaining primary lease

term where they're located do you have

gas we have convenience

we're looking to finance 711 properties

gas convenience stores here in southern


northern cal and throughout united


rates are anywhere between three to four

and three eighths for a five

seven ten year fixed rate loan uh 25 to

30-year ram

uh leverage wise we're probably 50 to 65

loan to value with a minimum 125 debt


and so uh really what determines the

rate is the remaining primary lease term

where the properties are located are

they in good locations

uh strength of sponsorship

amortization so definitely feel free to

call us

we think there's going to be a lot of

ample supply of 711 properties for

per purchase giving the 1031 market a

lot of options when it comes to

convenience stores

c stores my direct line is



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marvella from a 7-eleven

we financed a couple years back here in

san diego have a great day