Quantum Reps Both Sides in Sale of 7-Eleven in Salisbury, MD
Quantum Real Estate Advisors, Inc., has brokered the sale of a single-tenant absolute net-leased 7-Eleven located on Naylor Mill Road in Salisbury, MD. The 5,000-square-foot property sold for $5.5 million.
Quantum EVP Daniel Waszak represented the New York-based buyer in the 1031 transaction. The seller, Core Acquisitions in Chicago, was represented by Quantum president Chad Firsel.
Core has completed many 7-Eleven build-to-suits and other preferred developments in the recent past. In this case, Core completed the land acquisition, development, construction and ultimate sale within a 12-month timeframe, during the COVID-19 pandemic.
“The buyer already owns one other 7-Eleven and is very happy with the asset,” said Waszak. “This was part of a 1031 acquisition for the buyer and completed the ‘up-leg’ portion of the exchange.”
“The investment grade rating of the tenant coupled with 7-Eleven’s essential needs status has made this one of the hottest brands in the net-lease investment space.” added Firsel.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.