Article originally posted on connectcre.

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.