Just weeks after the first 7-Eleven in Madera, California opened its doors, it has sold to a new buyer for a record sum.
The 7-Eleven at 3720 Avenue 17 in Madera opened in late April, just across from an Arco gas station on Golden State Boulevard.
Now the property has sold for $12.18 million, the highest price ever for asingle-tenant 7-Elevensold in California history, according to Hanley Investment Group Real Estate Advisors.
Hanley represented the sellers, Stock Five Development Company out of Clovis, with San Diego’s Kidder Matthews representing the buyer, a private investor in the Bay Area.
The 7-Eleven was the first ever in Madera, with a7-Eleven Facebook poston April 23 announcing that it was now open for business.
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Hanley’s Sean Cox revealed he “identified a 1031 exchange buyer that was specifically seeking a single‑tenant7‑Elevenand sourced this off‑market opportunity through a longstanding developer relationship.”
“This prototype is the first of its kind to sell in California as a single-tenant asset, which made the execution even more meaningful for all parties involved,” Cox added.
The location in Madera also comes with a commercial diesel fueling station, along with EV charging stations as well.
The 4,644 square foot store sits on a 4.04 acre lot, with Hanley’s Bill Asher adding, “This sale set a new benchmark for the7‑Eleven brandin California.”
Source: California Post – Breaking California News, Photos & Videos
