CONTACT:
Erik Nelson
407-650-3667
[email protected]
7-ELEVEN TRIPLE-NET
CORPORATE GUARANTY
3608 U.S. Highway 30
Latrobe, PA
CONTACT:
Jon Adamo
407-650-3654
[email protected]
Investment Summary
INVESTMENT OVERVIEW
•
Investment Grade Guaranty with 7-Eleven, Inc.
(S&P: AA-)
•
14 Years Remain on Lease (15-year renewal
executed May 2013)
•
1.75% Annual Rent Increases Beg. 8/1/2019
•
NNN Lease - Zero Landlord Responsibilities
The subject property is a 7-Eleven gas station and convenience store located
in Latrobe, PA. The absolute triple net lease is leased to 7-Eleven, Inc., which
currently holds investment grade AA- credit with a stable outlook according
to Standard & Poor' s. 7-Eleven recently exercised a 15 year lease renewal in
May 2013. 7-Eleven is the world's largest operator, franchisor, and licensor
of convenience stores with 8,200 stores in the US and a total of more than
50,000 outlets in 16 countries.
Latrobe, PA is approximately 40 miles southeast of Pittsburgh. The site sits
along the historic Highway 30, which is part of the Lincoln Highway from
Philadelphia to the Ohio border and is considered the first paved
transcontinental highway in the United States. The city population was
8,338 as of the 2010 census. It is located near Pennsylvania's scenic
Chestnut Ridge. Latrobe was incorporated as a borough in 1854, and as a
city in 1999. Among its claims to fame, Latrobe is the home of the Latrobe
Brewery (the original brewer of Rolling Rock beer), Saint Vincent College,
and golfer Arnold Palmer.
INVESTMENT HIGHLIGHTS
Price
Cap Rate
$1,565,000
5.00%
Current Annual Rent
$78,248
Rent Per SF
$103.23
Rent Increases
Next Rent Increase
Lease Term Remaining
Renewal Options
1.75% annually
beginning 8/1/2019
8/1/2019
14 years
Four - 5 year options
Landlord Responsibilities
None
Year Built
1989
Building Size
Land Area
Lease Type
Lease Guaranty
Credit Rating
758 SF
0.85 Acres
NNN
7-Eleven, Inc.
AA- / Stable
Location Map
Aerial
ST VINCENT
COLLEGE
ARNOLD PALMER
REGIONAL AIRPORT
Aerial
Aerial
Tenant Overview
TENANT PROFILE
•
8,600 Stores in U.S. &
Canada
•
7-Eleven, Inc. is
Investment Grade Credit
(S&P Rated AA-)
The company operates, franchises and licenses more than 8,600 stores in the U.S. and Canada. Of the more than 7,800 stores the
company operates and franchises in the United States, more than 6,200 are franchised. Outside of the U.S. and Canada, there are more
than 43,5007-Eleven world wide.
As the world's largest operator, franchisor, and licensor of convenience stores, 7-Eleven, is well-established in the net lease investment
sales market. With over $53 billion in sales worldwide, 7-Eleven properties are supported by good business and chain-brand recognition.
Photos