SNL Sells Virginia 7-Eleven to 1031 Buyer from New York
Matthew Scow Orchestrates Deal of Prime Relocation Site
Secure Net Lease, a nationally acclaimed brokerage firm, facilitated the sale of a newly constructed 7-Eleven in an affluent area of Hampton, Virginia. The property was sold to a private buyer from New York motivated by a 1031 exchange.
The agent who facilitated the deal, Matthew Scow said “This is a prime relocation site, with over 40 years of successful operations, which shows huge commitment to this prime trade area in Virginia.”
This 7-Eleven site is a 4,650 square-foot building that sits on 1.16 acres at a signalized intersection that sees over 22,000 vehicles per day. The property is located 4 miles from Langley Air Force Base and 5 miles from Newport News Shipbuilding, the largest employer in Virginia. Hampton, VA is also home to 4 colleges: Hampton University (3,250 students), Old Dominion University (24,000 students), Christopher Newport University (4,500 students), and Virginia Wesleyan University (1,250 students).
“After reaching an agreement, the buyer went non-refundable and we successfully navigated the escrow process to secure the necessary financing and close the deal at a favorable cap rate,” Scow concluded.
The successful sale of this 7-Eleven property highlights Secure Net Lease’s expertise in delivering value to clients. With its prime location, long-standing operational history, and proximity to major economic drivers and educational institutions, the property represents a solid investment in the growing Hampton area. This transaction underscores the firm’s ability to identify high-potential opportunities and provide seamless brokerage services to its clients.
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.
