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1031-Exchange Buyer Grabs and Goes with $5M Baltimore-Area 7-Eleven
Stan Johnson Company has completed the ground lease sale of a single-tenant retail property leased to 7-Eleven. The 4,070-square-foot convenience store on Belcamp Road in Belcamp, MD, was acquired by a New York-based 1031 exchange buyer for $5.0 million.
Stan Johnson Company’s BJ Feller and Mike Philbin exclusively represented the seller, a local developer.
“This property represented one of the more unique opportunities of a 7-Eleven relocation property in tandem with a fresh 20-year lease,” said Feller. “The property attracted a wide range of interest from both private and institutional investors, owing to its location off Interstate 95 and nearby major drivers such as the Aberdeen Proving Grounds.”
The newly built gas station and convenience store is situated on a 2.4-acre parcel near the intersection of Riverside Parkway and I-95 about 30 miles northeast of Baltimore. The tenant relocated from a nearby site and increased its footprint by 67 percent to meet growing demand.
- ◦Sale/Acquisition
