Secure Net Lease Sells South Texas 7-Eleven
SNL’s Ed Benton Facilitates Transaction with Repeat 1031 Buyer
July 26, 2024 – Secure Net Lease successfully facilitated the sale of a 7-Eleven property located at 3301 Lomas Del Sur Blvd in Laredo, Texas. The buyer, a repeat client from Phoenix, AZ, utilized a 1031 exchange and secured approximately 50% financing for the purchase.
Ed Benton orchestrated this deal and said, “We secured an impressive cap rate for South Texas with this deal. We sourced a West Coast buyer who was in a 1031 exchange, obtaining about 50% financing. We successfully negotiated a stronger cap rate for the seller, and, given the property’s location, this was an exceptional outcome for the market. It’s worth noting that this is a repeat buyer, who had previously purchased a 7-Eleven from us.”
The 7-Eleven is strategically located at a signalized, high-traffic intersection at Lomas Del Sur Blvd and S Ejido Ave, which sees over 25,000 vehicles passing daily. The property’s visibility is further enhanced by its proximity to key thoroughfares, US-83 and Cuatro Vientos Rd, which see 36,140 and 35,661 vehicles per day, respectively. The site is located within an area experiencing significant population growth, with over 85,465 residents in a 3-mile radius, adding to the property’s investment appeal. Laredo’s role as the largest inland port on the U.S.-Mexico border, processing $833 million in daily trade, positions the property in a market driven by strong economic and demographic fundamentals.
7-Eleven, Inc. is the world’s largest convenience store chain, with over 83,000 stores globally. As a leader in the convenience retail sector, 7-Eleven is known for its strong financial standing and innovative retail model. The inclusion of locally popular brands, such as the Laredo Taco Company, within this store further enhances the site’s draw, driving foot traffic and adding to its long-term viability as an investment. The company’s S&P “A” credit rating provides additional confidence to real estate investors seeking stability in net lease investments.
The property’s location in Laredo, Texas, offers unique advantages. As the third-largest city on the U.S.-Mexico border and a vital trade hub, Laredo is integral to international trade flows. With $833 million of daily trade moving through the city, Laredo’s economy continues to grow, making it a prime location for commercial real estate investments. The strong population growth and the city’s importance in global trade create a stable, long-term investment opportunity for investors seeking exposure to high-demand retail sectors.
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, and 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.
We successfully negotiated a stronger cap rate for the seller, and, given the property’s location, this was an exceptional outcome for the market.
