SNL Facilitates Dallas Murphy USA Sale through a Strong Cash Buyer
Kyle Varni Navigates Smooth Close at High-Performing Murphy USA Location
Secure Net Lease, a nationally recognized brokerage firm, has successfully closed the sale of a Murphy USA located in Dallas, Texas. The buyer was an out of state all cash buyer that loved the property due to the site’s projected outstanding site visit numbers. The seller—a merchant developer—benefited greatly from the buyer’s quick decision making and all-cash closing.
Kyle Varni, who facilitated the transaction, shared, “This was a deal that took a little longer to find a buyer than we originally expected, but as soon as the store opened for business and we were able to get projected store visit numbers we had a lot more buyer interest. We were then able to source an all cash buyer from out of state that loved the projected high performance. The buyer was willing to move extremely quickly and close with all cash, which created a super smooth and fast transaction.”
The 2,824-square-foot convenience store is situated in a densely populated corridor of Dallas with strong traffic counts and significant retail presence. The property sold at a very aggressive cap rate that was close to our list price.
“It honestly couldn’t have gone easier once we opened escrow due to our track record with Murphy USA and the knowledge of the trade area” Varni concluded.
This transaction exemplifies Secure Net Lease’s track record and expertise selling C-Store properties in a market that we are extremely familiar with, while maintaining seamless execution and delivering value for both buyers and sellers.
Based in El Dorado, Arkansas, Murphy USA is a leading retailer of gasoline and convenience merchandise. They operate over 1,720 stores with over 15,000 employees that serve customers in 27 states. Their sites are located in close proximity to Walmart stores, but also operate standalone stores under the names Murphy Express and QuickChek.
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.
