SNL Sells Opportunity Zone 7-Eleven in Phoenix, AZ

Secure Net Lease, a nationally recognized brokerage firm specializing in the acquisition and disposition of investment real estate, has completed the sale of a newly constructed 7-Eleven in Phoenix, Arizona. The asset was acquired by an all-cash Opportunity Zone buyer from Thousand Oaks, California, underscoring the firm’s ability to deliver timely solutions for specialized investment requirements.

“This 7-Eleven in Phoenix drew a ton of interest. We had multiple buyers circling, but we found an Opportunity Zone buyer who could perform this year, and once we went under contract it was a 10–15 day sprint to the finish. Smooth, straightforward, and a solid outcome,” said Bob Moorhead, who represented the seller.

Located at 1802 S 7th Street, the ±4,650-square-foot convenience store with fuel is positioned along a busy urban corridor with excellent visibility and strong daily traffic counts. The site is supported by dense surrounding demographics, a well-established retail trade area, and immediate access to major transportation routes, all of which contribute to the asset’s long-term stability and tenant performance. Situated within an Opportunity Zone, the property also offers unique appeal to certain investor profiles, combining a nationally recognized tenant with strategic tax-advantaged positioning.

The successful sale of this 7-Eleven highlights Secure Net Lease’s proven track record of matching premium assets with the right capital sources, even in competitive and fast-moving environments. By leveraging the property’s prime location, strong tenant profile, and unique Opportunity Zone designation, the firm delivered a transaction that met the needs of both buyer and seller. This deal further underscores Secure Net Lease’s ability to execute with precision and create value for investors nationwide.

7-Eleven, headquartered in Irving, Texas, is the world’s largest convenience store chain, recognized for its iconic brand, expansive product offerings, and strong operational history. With thousands of locations nationwide, 7-Eleven remains one of the most sought-after tenants in the net lease investment market.

About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.

SNL Sells Texas CAVA in 1031 Exchange

Secure Net Lease, a nationally recognized brokerage firm specializing in the acquisition and disposition of investment real estate, has completed the sale of a freestanding CAVA restaurant in Waco, Texas. The asset was acquired by an all-cash 1031 exchange buyer from California, marking a successful outcome in a challenging market.

The agent on this deal, Edward Benton, said “We were able to source an all-cash buyer who paid an aggressive cap rate in a very challenging market. When the right buyer came along who understood the asset, we were able to get this deal across the finish line.”

Located at 812 South 6th Street, the ±2,847-square-foot building occupies a prime position within a thriving retail corridor. The property is surrounded by national brands and benefits from strong daily traffic counts and favorable market demographics, supporting both long-term value and tenant performance.

The transaction underscores Secure Net Lease’s ability to navigate complex deal structures and match targeted buyers with assets that meet their criteria. Leveraging persistence and market expertise, the team delivered a closing that achieved the seller’s goals in a competitive environment.

CAVA, headquartered in Washington, D.C., is a rapidly expanding Mediterranean fast-casual brand known for its fresh, flavorful menu and strong customer loyalty. With hundreds of locations nationwide, CAVA continues to grow its presence in key U.S. markets.

About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.

Episode 7 – Retail Recap: Retail Market Breakdown – Bonus Depreciation is Back

In this episode, hosts Jeremy Mercer, Rob Franks, and Secure Net Lease’s Bob Moorhead dive into retail investment trends, zeroing in on cap rate stability, the renewed power of bonus depreciation, and the competitive dynamics reshaping retail deal making. T-Mobile’s Zach Spletter joins the conversation for added perspective from the tenant side.

Cap Rates Holding the Line

Despite market uncertainty, cap rates across major retail brands remain remarkably consistent from the prior month:

  • Starbucks is holding steady with a 6% average list cap. Inventory is growing slightly, but investor appetite is flat due to shorter lease terms and landlord responsibilities.
  • Chipotle’s average list cap is in the 5% range when looked at nationally, bolstered by its lease structure and the popularity of drive-thru-equipped locations.
  • 7-Eleven cap rates vary, with newer truck stop-style builds reaching price points of $14M+. These larger formats are seeing increasing demand in growth states like Texas, Florida, Arizona and the Carolinas.
  • Dutch Bros stands out for its 15-year, true triple-net deals offering simplicity and security that investors continue to favor.

Inventory volumes across these brands are stable, and pricing hasn’t meaningfully changed. Buyers remain selective with elevated interest rates and negative leverage concerns.

Bonus Depreciation Sparks Movement

One of the biggest catalysts in the market right now is the return of 100% bonus depreciation, signed into law on July 4th. The effect was almost immediate as deal activity picked up, especially for large C-store assets that qualify.

While it hasn’t translated to a wave of closings just yet, there’s been a noticeable uptick in offers, site visits, and investor engagement. For many 1031 buyers and private capital groups, the added tax benefit is helping offset the sting of higher debt costs.

On the Ground: Tenant & Leasing Insights

Zach Spletter of T-Mobile joins to share how the brand continues to evolve from small-town expansion to top-100 metro relocations and suburban infill. Their ideal footprint (2,800–3,500 SF) often targets outparcels, and they’re focusing more on optimization and co-tenancy strategy.

Conclusion

Cap rates are holding steady, but buyer behavior is shifting as bonus depreciation re-enters the equation. Combine that with consistent inventory and potential rate cuts, and the back half of the year should see increased activity.

 

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SNL Sells Take 5 Oil Change in Weslaco, TX

Secure Net Lease, a nationally recognized brokerage firm specializing in the acquisition and disposition of investment real estate, has completed the sale of a freestanding Take 5 Oil Change in Weslaco, Texas. The property was acquired by an all-cash 1031 exchange buyer from Washington, demonstrating the firm’s ability to reposition a previously inactive listing and deliver a swift, seamless closing.

“This property had been listed with two other brokerages before we got involved,” said Kyle Varni, who represented the seller. “Once we took over, we refreshed the marketing and tapped into our network, and within just a month we had a qualified buyer lined up.”

Located at 209 N Westgate Drive, the ±1,430-square-foot Take 5 Oil Change occupies a prime position along one of Weslaco’s main retail corridors. The site benefits from excellent visibility, strong daily traffic counts, and proximity to a dense lineup of national retailers, enhancing both the property’s long-term value and the tenant’s operational performance. The property is in a thriving trade area anchored by national brands including Walmart, H-E-B, and Lowe’s, with strong demographics and ongoing market growth that support the tenant’s continued success.

“They came in all cash and were ready to move fast—we went from contract to closing in only 21 days,” Varni added. “It was a smooth, straightforward deal and a great outcome for everyone involved.”

The transaction highlights Secure Net Lease’s ability to revitalize underperforming listings through strategic repositioning, targeted outreach, and utilization of a proprietary buyer network. By identifying a qualified investor with a matching acquisition profile and capacity to close quickly, the team delivered an optimal result for the client in a condensed timeline.

Take 5 Oil Change, headquartered in Metairie, Louisiana, is a rapidly expanding automotive service brand known for its drive-through oil change model that emphasizes speed, convenience, and quality. With hundreds of locations nationwide and a strong operational record, Take 5 is considered a desirable tenant within the net lease investment space.

About Secure Net Lease

Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.

Secure Net Lease Brokers Atlanta MSA QuikTrip Sale

Secure Net Lease, a brokerage firm that specializes in the acquisition and disposition of investment real estate, has successfully closed the sale of a freestanding QuikTrip ground lease located in Newnan, Georgia. The asset was acquired by an all-cash 1031 exchange buyer based in Georgia, marking another efficient closing executed by Secure Net Lease on behalf of a long-standing institutional seller.

Anthony Pucciarello, who represented the seller, shared, “We brought this QuikTrip to market at one of the most aggressive cap rates available at the time, and even so, we were able to secure a highly qualified buyer who was actively searching for exactly this type of asset.” 

The QuikTrip is located at 35 Amlajack Boulevard, just off Poplar Road and immediately adjacent to a full interchange on I-85, offering high visibility and access to strong traffic volumes. The ±5,858-square-foot convenience store and fueling facility is situated on a 2.24-acre parcel at a signalized intersection directly across from Piedmont Newnan Hospital. The site benefits from high barriers to entry due to zoning restrictions and offers long-term value given its strategic positioning in a rapidly expanding corridor.

“The transaction moved smoothly from start to finish. The buyer was in a 1031 exchange and already owned multiple QuikTrip properties, so he was very familiar with the brand and confident in its performance. He was specifically targeting sites in Georgia and the Carolinas, where inventory was extremely limited, so this property was a perfect match for his criteria. It aligned exceptionally well with what our seller was looking for, making it a great fit on both sides,” Pucciarello concluded.

This deal further highlights Secure Net Lease’s continued success in matching highly targeted buyers with stabilized, investment-grade properties. By leveraging market relationships, brand familiarity, and an understanding of buyer preferences, Secure Net Lease facilitated a seamless transaction that met the goals of both parties.

QuikTrip Corporation, headquartered in Tulsa, Oklahoma, is one of the most recognized names in the convenience store and fuel retailing industry. Founded in 1958, QuikTrip operates over 1,000 locations across more than a dozen states. Known for its high-quality facilities, operational excellence, and loyal customer base, QuikTrip consistently ranks among the top-performing tenants in the net lease sector and remains a preferred choice for investors seeking dependable, long-term income streams.

About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.

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