New-Format 7-Eleven Fetches Nearly $8M in San Bernardino

Hanley Investment Group Real Estate Advisors arranged the sale of a new construction, single-tenant property occupied by a 7-Eleven convenience store with Laredo Taco Company quick-serve restaurant and a gas station in San Bernardino. The sale price was $7,726,613, for one of the lowest cap rate sales in the past 12 months for a single-tenant 7-Eleven in California priced at more than $7 million.

EVPs Bill Asher and Jeff Lefko represented the developer and seller, Glendale-based Chase Partners Ltd.. The buyer, a private investor from Bakersfield, was represented by Jeff Leggio of ASU Commercial in Bakersfield. 

“We secured an all-cash 1031 exchange buyer through a broker relationship and negotiated a two-week due diligence period with a 40-day escrow to help fulfill the buyer’s exchange requirement,” said Asher.

Built in 2023, the single-tenant 4,088-square-foot 7-Eleven sits on 1.25 acres at 171 E. Redlands Blvd. Asher noted that the new-format, larger-square-footage 7-Eleven convenience store with Laredo Taco Company and gas station is among the first new-format locations of this type to sell in Southern California.