SNL Sells 7 Brew Coffee to Private Investor from California
Kyle Varni Orchestrates 1031 Exchange at an Aggressive Cap Rate
August 15, 2024 – Secure Net Lease, a nationally recognized brokerage firm, orchestrated the sale of a 7 Brew Coffee in Midland, Texas. This property generated a lot of interest and sold at an aggressive cap rate to a private investor from California.
The agent who facilitated this deal, Kyle Varni, said “This was a great deal to get across the finish line. The listing attracted strong interest, resulting in multiple offers and creating a competitive bidding environment.”
This 510 square-foot 7 Brew Coffee is located on Loop 250 in Midland, Texas, a major thoroughfare for the Midland area that sees over 52,700 vehicles per day. The property is located directly across from Midland Park Mall, a 635,788+ square-foot shopping mall with 6 anchor tenants including Dillard’s, JCPenny, and Dick’s Sporting Goods. It is also only one mile from Midland College, a public community college with over 5,180 enrolled students and over 800 employees. Midland College makes up 704,752 square feet and has a 224 acre campus.
“We secured an aggressive cap rate with a motivated 1031 buyer from California. We worked through a minor lease amendment, and the overall process went smoothly. The buyer visited the site, met with the franchise, and we successfully closed the deal at a very competitive cap rate for this market” Varni concluded.
This sale of the 7 Brew Coffee property in Midland, Texas highlights Secure Net Lease’s expertise in facilitating deals with high-demand investment opportunities. Kyle Varni was able to generate competitive interest and deliver a smooth transaction process.
Unlike most coffee chains, 7 Brew’s unique business model centers solely on drive-thru business, with no interior sit-down space in their compact 500-square-foot stands. Since 2017, 7 Brew has grown to over 210 locations in 26 states and continues to expand rapidly with a recent investment from Blackstone, the world’s largest commercial RE owner.
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
The listing attracted strong interest, resulting in multiple offers and creating a competitive bidding environment.
