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| 7-11, Willoughby, OH |
 |
| Glen Kunofsky |
NEW YORK, Jan. 23, 2014 – Marcus & Millichap Real Estate
Investment Services, the nation’s largest real estate investment services firm,
has arranged the sale of a 12-property 7-Eleven store and gas station portfolio
located in Ohio.
Glen
Kunofsky and Russell Wachtler in Marcus & Millichap’s Manhattan
office advised the buyer and seller, both large institutions.
Michael
Glass, vice president and regional manager of the firm’s Cincinnati,
Cleveland and Columbus offices is Marcus & Millichap’s broker of record in
Ohio.
 |
| Russell Wachtler |
“The
institutional market for net-leased assets continues to be extremely strong,”
says Wachtler. “The strong corporate credit of 7-Eleven, combined with the
annual rental increases, created a very competitive bidding environment for the
portfolio.”
“There
was a significant amount of upside for investors related to site renovations at
each location, post portfolio acquisition,” says Kunofsky. “All of the
properties are in excellent locations with great visibility and will be
completely remodeled and branded to meet new standards for 7-Eleven.”
 |
| Michael Glass |
7-Eleven
operates, franchises and licenses 8,600 stores in the United States and Canada.
Of the approximately 7,600 stores the company operates and franchises in the
U.S., close to 5,700 are franchised.
Outside of the U.S. and Canada, there are more than 41,600
7-Eleven and other convenience stores in Australia, China, Denmark, Indonesia,
Japan, Malaysia, Mexico, Norway, Philippines, Singapore, South Korea, Taiwan,
Thailand and Sweden.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations
Manager
(925) 953-1716
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