Where is the nearest speedway gas station
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
900
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
percent
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
cal
northern cal and throughout united
states
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
coverage
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
[Music]
760-479-0-800-760-479-0800
if you like this video and you want to
hear similar videos
you want more information on 7-eleven
properties for sale 7-eleven financing
please comment below so that
we can make this much more interactive
on natalie's tv
or if you have any ideas for future
shows for netflix tv
definitely comment definitely subscribe
below as well
that way whenever we do these kind of
video market updates
you'll get an email thanks again chris
marvella from a 7-eleven
we financed a couple years back here in
san diego have a great day
[Music]
