Category: Property Sale

July 1, 2024 — Secure Net Lease facilitated the smooth closing of a Murphy Express gas station located in Mary Esther, FL. The deal, completed at the beginning of July, highlights SNL’s broad network and reach on both a national and local level.

SNL’s Kyle Varni successfully brokered the deal with a private investor from Fort Lauderdale, FL who was motivated by a 1031 exchange, having recently sold a warehouse in the Miami, FL MSA. The broker, based in Florida as well, facilitated the all-cash transaction, which was driven by the seller’s motivation as a merchant developer.

“We recently closed a transaction involving a buyer who came from an industrial property exchange in the Miami, Florida area. This was their first Net Lease transaction, facilitated smoothly with the help of a family member who acted as their broker. They secured the deal at a very competitive cap rate for Murphy Express in the current market” Varni said.

The 2,824 square-foot gas station is a brand new construction site sitting on almost an acre of land. The city has close proximity to popular tourist destinations, being located on the Gulf Coast. It sits in between Pensacola and Panama City, and is located only 9 miles from Destin and 2 miles from Fort Walton Beach. Okaloosa County receives around 7.5 million tourists every year, making this an attractive area for investments.

“Initially, the buyer was interested in another Murphy Express property we had listed in Texas. However, we were able to direct them to this property in Florida, which was closer to home for them. The entire process was relatively smooth with no major hiccups or challenges. By leveraging our multiple Murphy Express listings, we attracted the right local buyer and successfully closed the deal.”

Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise, operating more than 1,720 locations in 27 states under the brands Murphy USA and Murphy Express. The brands provide quality fuels at the best value to approximately 2 million customers a day.

This transaction underscores Secure Net Lease’s ability to leverage its extensive network and expertise to attract the right local buyers, facilitating successful real estate investments.

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.

June 26, 2024 — Secure Net Lease, a renowned brokerage firm specializing in the acquisition and sale of investment real estate, facilitated the all-cash sale of a newly renovated Banfield Pet Hospital in an attractive area of Midlothian, Virginia. The transaction was completed in late June, with the buyer being a local private investor from Virginia motivated by a 1031 exchange.

SNL’s Matthew Scow shared insights on the sale process: “We acquired this listing from another group, and the process was relatively slow at first due to the double net nature of the deal. To find a buyer, we reached out to numerous contacts in Virginia, aiming for a local purchaser. Eventually, we found the perfect match: a lovely couple from Virginia. They had land under contract with Home Depot, which allowed them to act quickly and meet the two-week closing requirement needed to start the exchange. This deal fit their needs perfectly. We listed the property at a 5.75% cap rate and ultimately closed at a 5.80% cap rate. The property, a former bank building, is in a prime location of Midlothian, Virginia. The couple toured the business and were very enthusiastic about it.”

The property, located at 13001 Hull Street Road, Midlothian, VA, near Richmond, VA, is positioned in a high-traffic area near several nationally recognized tenants such as Target, Starbucks, and Dick’s Sporting Goods. This prime location adds to the property’s attractiveness, making it a valuable investment.

“Banfield Pet Hospital, owned by the Mars Corporation, which is now one of the largest private companies in the U.S., brings strong financial backing to the table. Their solid credit helped mitigate concerns about the double net lease, making this deal more attractive to the buyers.”

This transaction highlights the continuing demand for prime real estate in Virginia and underscores the importance of local investment in driving economic growth. The sale of Banfield Pet Hospital to these local investors is a testament to the property’s value and the strategic planning involved in securing the right buyers.

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.

Their solid credit helped mitigate concerns about the double net lease, making this deal more attractive to the buyers.

June 5, 2024 — Secure Net Lease, a nationally acclaimed brokerage firm, facilitated the sale of a newly constructed 7-Eleven in an affluent area of Houston, Texas. The transaction was completed in early June, with the buyer being a private investor from Florida motivated by a 1031 exchange.

SNL’s Ed Benton facilitated the all-cash deal, showcasing the high demand and competitiveness in the market. The buyer and broker, both hailing from Florida, managed to secure a favorable cap rate in a challenging market environment, highlighting the strategic importance and attractiveness of the property.

This deal exemplifies the dynamic nature of the real estate market, especially in high-demand areas such as Houston. The transaction was noted for its smooth and swift process, underscoring the efficiency and expertise of all parties involved.

Ed Benton said “The buyer was previously in the gas station business and understood the product type. I got the opportunity to meet them in person when they came to town and was able to spend the day with them looking at the property and driving the area. In that meeting I was able to educate them on why 7-Eleven chose that site and explain several key factors about the location that made the tenant believe it was going to be a good performing location for them.”

The large-format 7-Eleven, located at 2851 W Mount Houston Road, sits on a 3.51-acre site with 10 gasoline pumps and 20 fueling positions. The site is located in a dense industrial area, adjacent to 120-acre industrial park and several small industrial businesses. This property is also strategically positioned near George Bush Intercontinental Airport, Houston’s largest airport with over 40 million travelers per year.

“What was most compelling for 7-Eleven was their ability to have a diesel terminal on the property allowing them to capture fuel sales from the large amount of truck traffic on that section of West Mt. Houston Road. This conversation and time spent with the buyer played a big part in them moving forward with the purchase at a very aggressive CAP Rate for the seller.”

7-Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, TX, 7-Eleven operates, franchises and/or licenses more than 85,000 stores in 20 countries. They continue to develop new stores year-round and are constantly thinking of innovative ways to increase consumer engagement.

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.

This conversation and time spent with the buyer played a big part in them moving forward with the purchase at a very aggressive CAP Rate for the seller.

Dallas, May 5, 2024 – Secure Net Lease completed a 1031 Exchange sales transaction involving a newly constructed 7-Eleven Store in San Marcos, TX. The nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, arranged the sale of a 4,650-square-foot store held under a 15-year, corporate, absolute NNN lease.

Secure Net Lease’s Edward Benton represented the seller, an Austin, TX-based developer. The buyer was a Sherman Oaks, CA-based private 1031 investor.

Ed Benton said, “The buyer sold a roughly one-acre, trophy asset in the Los Angeles market that had been part of its family holdings for many years. Once its down-leg transaction closed, the family sought a 1031 Exchange property, and this 7-Eleven asset built in 2023 in Texas appealed to them.”

The large-format 7-Eleven, located at 1231 E. McCarty Lane, sits on a 1.74-acre site with 40 parking spaces and eight gasoline fueling pumps. The site is adjacent to an Amazon Fulfillment Center that employs more than 1,000 people and roughly three miles from the 570-acre, 38,370-student campus of Texas State University.

“Our team understood this buyer type is rarely in the market and required us to leverage our internal platform and deep relationships throughout the brokerage community to successfully source a buyer and achieve a top of market CAP rate for our seller client,” said Benton. “This 1031 Exchange transaction was accomplished by keeping the San Marcos, TX 7-Eleven site top of mind with the eventual buyer as it worked through a two-month closing process on a separate down-leg transaction.”

7-Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, TX, 7-Eleven operates, franchises and/or licenses more than 78,029 stores in 18 countries.

San Marcos, TX is located 20 miles south of Austin and 40 miles north of San Antonio. The city is one of Austin’s major suburbs and is accessed via major roadways such as IH-35, SH-130, US-183 and IH-10. The population of San Marcos grew 55% from 2010 to 2019, reaching 70,301 and with the expectation it would hit 86,200 people by 2030.

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.

Our team understood this buyer type is rarely in the market and required us to leverage our internal platform and deep relationships throughout the brokerage community.

May 22, 2024 — Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, sold a newly-built Shake Shack in Round Rock, Texas. The buyer was a private California investor seeking to increase its Texas real estate holdings. The seller was a Texas-based developer.

Secure Net Lease’s Matthew Scow and Bob Moorhead represented the seller in the absolute NNN ground lease transaction.

The Shake Shack property located at 1402 North Interstate 35 in Round Rock, TX, is Secure Net Lease’s eighth Shake Shack closing, which have averaged 5.00 Cap rates and exceeded $43 million in total combined deal value. The Dallas-based firm has sold the most retail property in Texas since 2019, according to Costar.

“Completion of this transaction reflects our effective marketing campaign” said Scow. Secure Net Lease was able to achieve a win-win between parties by maximizing collaboration of both outside and internal brokers.”

“While the buyer intended to put some debt on the property during the contract period, they were still able to close all-cash to meet the closing timeline per the requirements,” said Moorhead. “This transaction was smooth and efficient, demonstrating a high level of professionalism and cooperation from all parties involved.”

Shake Shack is a modern day “roadside” burger stand serving a classic American menu of premium burgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer and wine. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has expanded to over 520 locations system-wide, including over 335 in 33 U.S. States and the District of Columbia, and 185 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.

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 was able to achieve a win-win between parties by maximizing collaboration of both outside and internal brokers.

Sam House with Secure Net Lease arranged the sale of Cedar Hill Crossing, an institutional-quality, 187,770-square-foot grocery-anchored shopping center located in the South Dallas market of Cedar Hill, TX. Secure Net Lease’s Sam House recently joined the nationally-recognized brokerage firm, which according to Costar, has been the top producing brokerage company in Texas for investment retail property sales since 2019.

Secure Net Lease’s Sam House represented both parties in the transaction. The buyer was a Dallas-based private investor that was strategically seeking to increase its market share in the Dallas-Fort Worth Metroplex. The seller was a New York-based mid-market private investor. Secure Net Lease’s team also assisted the buyer in securing debt financing.

“We utilized our local relationships by having them compete to generate activity for Cedar Hill Crossing. That strategy ultimately drove pricing to the top of the market,” said House. “The aggressive marketing campaign delivered 14 offers and allowed us to meet the high pricing expectations of the seller. The seven-months long marketing effort concluded with the logical selection of a local investor that was able to close at the desired price point.”

Cedar Hill Crossing is anchored by national retailers such as Kohl’s, Dollar Tree, DaVita, Petco, and Planet Fitness. Built in 2000 and 2001, the multi-tenant property is strategically situated on 21.4 acres at 420 US Highway 67 & 445 E FM 1382 and has 1,034 parking spaces. The site is shadow anchored by a Home Depot, Albertson’s, and a U.S. Postal Office. The center consists of four single story buildings on two lots and has out-parcel tenants including Starbucks, Panda Express, The UPS Store, Slim for Life, Zena Dental and Smile Doctors, to name a few.

The high-visibility site in central Cedar Hill boasts a half mile of frontage and seven access points along a high-volume transportation corridor with a combined average traffic count of nearly 220,000 vehicles per day. The surrounding South Dallas-Fort Worth submarket has an affluent consumer base and sits within a dominant retail trade area encompassing more than 3.4 million square feet of retail space located within a mile of the center. Cedar Hill Crossing has a stable, long-term occupancy, which has been historically strong with an average tenant tenure of 15.3 years.

The Southwest Dallas submarket consists of 15.6 million square feet of retail space including three separate micro-markets – Cedar Hill/Duncanville/Desoto,

Lancaster, and Southwest Dallas County. Cedar Hill Crossing is located within the Cedar Hill/Duncanville/Desoto micro-market, which typically boasts better fundamentals than its sister 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.

The aggressive marketing campaign delivered 14 offers and allowed us to meet the high pricing expectations of the seller.

Sam House with Secure Net Lease completed the sale of Morrison Crossing in Brownsville, TX. He represented the seller in the transaction, a Texas-based Principal. The buyer was a well-known Texas investor that sought to strategically increase their market share in the South Texas Market. Secure Net Lease’s Sam House recently joined the nationally-recognized brokerage firm, which according to Costar, has sold the most retail property in Texas since 2019.

“This asset appealed to investors seeking a long-term, capital preservation and appreciation play,” said House. “The property is anchored by a host of desirable national retailers that draws customers from local and neighboring submarkets”.  House procured 9 offers for Morrison Crossing by entering the market with a targeted approach, which ultimately landed a renowned retailer as the buyer. This group paid a strong price and closed quickly to secure the strategic acquisition.

Morrison Crossing is comprised of three separate buildings that are configured with twenty-two tenant spaces. The property is strategically positioned along Interstate 69E (US77/83) which acts as the main transportation artery for the dynamic and high-growth market of Brownsville. The superior location allows for the nearby diverse and ever-growing consumer base convenient access to the center. It is 95.1% occupied and anchored by nationally coveted destination tenants such as Conn’s, Cavender’s Boot City, and Dollar Tree with powerful shadow anchors including Home Depot, Kohl’s, and Academy Sports which drive additional drawing power to the center.

“The achievement of the compressed sale cap rate can be credited to our aggressive marketing outreach campaign, strong local relationships, and targeted approach to the market,” said House. “We used a creative, outside the box approach to land on a national retailer/investor who came in as a highly compelling purchaser with a quick close.”

Brownsville is a diverse, rapidly growing city located in the dynamic Rio Grande Valley, which boasts a highly desirable cost of living and a strong retail environment. The Brownsville retail market contains 21.3M SF of inventory with an average vacancy rate of 5.4%. The city of Brownsville has emerged as a top target for investors and tenants looking to take advantage of the favorable demographics and expansive consumer draw in the Rio Grande Valley.

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 retail 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.

the compressed sale cap rate can be credited to our aggressive marketing outreach campaign, strong local relationships, and targeted approach to the market

Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, played a key role in finalizing one of Texas’ largest convenience-store sale leaseback transactions on record. The Dallas-based firm completed a $237-million sale leaseback involving 76 Allsup’s convenience-store locations in multiple states. The Allsup’s Portfolio sale leaseback was an integral component of a larger nearly $1-billion business acquisition.

Secure Net Lease’s Bob Moorhead and Joe Caputo were responsible for brokering the sale leaseback deal on behalf of the seller, Brookwood Financial Partners, a Beverly, MA-based private equity firm that owns the Yesway brand. The portfolio sale was split buyer between two large REIT’s that are heavily invested in convenience and gas station properties.

Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, played a key role in finalizing one of Texas’ largest convenience-store sale leaseback transactions on record. The Dallas-based firm completed a $237-million sale leaseback involving 76 Allsup’s convenience-store locations in multiple states. The Allsup’s Portfolio sale leaseback was an integral component of a larger nearly $1-billion business acquisition.

Secure Net Lease’s Bob Moorhead and Joe Caputo were responsible for brokering the sale leaseback deal on behalf of the seller, Brookwood Financial Partners, a Beverly, MA-based private equity firm that owns the Yesway brand. The portfolio sale was split buyer between two large REIT’s that are heavily invested in convenience and gas station properties.

Secure Net Lease’s Caputo said, “The timely execution of the sale leaseback was a critical element that would ensure the overall business transaction between Allsup’s and Yesway closed smoothly. Had either buyer not closed on time, it could have jeopardized the larger sale transaction involving a 304-store, regional convenience-store chain. The equity from the real estate served as a vital capital source for the acquisition of the retail business.”

Moorhead said, “The seller had already received some buyer interest for the real estate prior to our involvement. Our targeted marketing campaign ultimately generated five offers and drove the cap rate down 50 basis points from the seller’s initial offer.”

The sale leaseback portfolio encompassed convenience-stores across Texas and New Mexico featuring 20-year absolute NNN terms and 2% annual increases. The portfolio was comprised mainly of older stores in rural locations.

Allsup’s is one of the most iconic and respected convenience-store chains in the region known for foodservice including its popular burritos. Yesway is a national convenience-store chain with locations across the Midwest. Brookwood Financial Partners’ BW Gas & Convenience Holdings LLC, doing business as Yesway, is based in West Des Moines, Iowa. The acquisition of Allsup’s is the largest in Yesway’s history.

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.

Our targeted marketing campaign ultimately generated five offers and drove the cap rate down 50 basis points from the seller’s initial offer.

Sam House, who recently joined Secure Net Lease, completed the sale of Marketplace at Craig Ranch in McKinney, TX. Secure Net Lease is a nationally-recognized brokerage firm, which according to Costar, has sold more retail property in Texas since 2019 than any other company. The 11,827-square-foot retail shopping center is located in the booming Craig Ranch corridor of McKinney, TX within the Dallas-Fort Worth Metroplex.

Secure Net Lease’s Sam House represented the seller, a Texas-based developer. The buyer was a Texas investor that sought to increase its retail market share in the Dallas-Fort Worth Metroplex.

“This asset appealed to investors seeking long-term, sustainable cash flow,” said House. “Yet, an investor can realize significant upside via built-in step rent structures in this 2018-built retail center in a high growth market surrounded by an affluent customer base.” House procured 11 offers for the Marketplace at Craig Ranch and successfully navigated a host of hurdles ranging from contractor issues, capital markets complexities and differing perspectives between buyers and sellers, including an initial buyer that was under contract but dropped out when they were unable to secure financing, noted House.

Marketplace at Craig Ranch is comprised of a single building that is configured with six tenant spaces. The property is strategically situated on 1.54 acres at 4701 S. Custer Road adjacent to newly constructed multifamily and residential homes in a high-income and high-growth submarket. Its superior location, ease of access and strong visibility allows the growing consumer base convenient access to the center. The Marketplace at Craig Ranch is 100% occupied and features long-term, regional credit leases with a weighted average lease term of 6.4 years.

“The closing of this transaction in a tight timeline can be credited to our aggressive marketing outreach campaign, strong local relationships, and collaboration with the brokerage community to produce several highly competitive back-up offers,” said House. “Ultimately, we landed on a local private investor who came in as an all-cash buyer at a 5.35% cap rate and was able to close quickly just under the seller’s full list price.”

McKinney is an affluent city northeast of Dallas and is one of the fastest-growing cities in the country. McKinney has added more than 100,000 new residents in the last decade. The area also has one of the highest median household incomes in the Dallas-Fort Worth Metroplex, coming in at just over $100,000. McKinney has emerged as a top target for developers, investors and tenants looking to take advantage of the favorable demographics in this area of the Dallas-Fort Worth Metroplex.

About Us 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 retail 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.

Ultimately, we landed on a local private investor who came in as an all-cash buyer at a 5.35% cap rate and was able to close quickly just under the seller’s full list price.

Dallas – Secure Net Lease arranged a 1031 Exchange sales transaction involving 7 Brew Coffee and a prime coffee QSR location next to the campus of Texas Tech University in Lubbock, Texas. The nationally-recognized brokerage firm who since 2019 has sold more retail property in Texas, according to Costar, brought together a 1031 Exchange buyer and the developer of the 2023-built, drive-thru site that is ground leased to 7 Brew Coffee, a fast-expanding national QSR chain.

Secure Net Lease’s Kyle Varni represented the developer that sold the site to a Santa Fe, NM-based 1031 Exchange buyer. The site is located at 1415 University Ave. the main road for the more than 1,800-acre college campus, and less than a mile from the 60,454-seat Jones AT&T Stadium, where the Texas Tech Red Raider football team plays.

Kyle Varni said, “Interest was strong for this rare coffee QSR location because the site was adjacent to a major college campus with over 40,000 students, sits in a difficult barrier to entry market and 7 Brew Coffee is quickly emerging as a favorite brand for the younger demographic. The buyer was in a large 1031 Exchange and had attended Texas Tech, so he was exceptionally familiar with the strength of the real estate.”

Arkansas-based 7 Brew is a member of a new group of retailers that have expanded their menus beyond coffees to encompass custom, hand-crafted specialty drinks like smoothies, chillers, teas, and premium energy drinks. 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.

“This prime site adjacent to a major college campus generated several offers and we were able to create a competitive bidding environment that resulted in achieving a price that was more aggressive than all other 7 Brew Coffee properties listed on the market,” said Varni. “The 7 Brew coffee retailer was early in its expansion when we first brought this property to market. Since then, the tenant now has more than 20 locations open and operating. It is growing fast and ranks as one of the bigger franchisees in the entire 7 Brew chain.”

Secure Net Lease is marketing several additional locations in the $1 million to $2 million price range that sit on prime real estate ideal for high performing stores.

Lubbock is the 10^th most populous city in Texas and is nicknamed “The Hub” due to it  serving as the economic, educational, and health care hub of the multi-county region. Lubbock was ranked as the 11^th best place to live in Texas by BestPlaces, and offers a low cost of living and a strong economy.

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.

we were able to create a competitive bidding environment that resulted in achieving a price that was more aggressive than all other 7 Brew Coffee properties listed on the market