7-Eleven portfolio in Hampton Roads brings $23.6 million
Marcus & Millichap has announced the sale of a nine-property portfolio leased to 7-Eleven Inc. The stores, located in Hampton Roads, brought a total sales price of $23.6 million.
“These locations have stood the test of time and are well-positioned for continued success,” Derrick Dougherty, first vice president investments in Marcus & Millichap’s Philadelphia office, said in a statement. “The stores and gas stations contained in this portfolio have operated successfully for decades in strong and well-established markets.”
Dougherty, Mark Taylor, and David Becattini represented the seller, a private local owner, and procured the buyer, a real estate investment trust.
Three of the stores are located in Hampton, two are in Williamsburg, and one each is situated in Poquoson, Newport News, Gloucester and Surry. Most of the stores have corner locations and for many years have been destination locations for local residents.