7-Eleven - Lacey, WA

CONFIDENTIALITY DISCLAIMER

This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

MAJ COMMERCIAL REAL ESTATE

MAJ Commercial Real Estate is excited to present an exceptional opportunity to acquire a Single Tenant Net Leased Investment situated in the thriving city of Lacey, Washington. This prime property features a brand new, 15-year lease with the globally recognized 7-Eleven corporation. Located within a vibrant shopping center, the site is accompanied by popular dining options such as Chipotle, MOD Pizza, and Five Guys. Positioned at the high-traffic intersection of Pacific Avenue SE and Sleater-Kinney Road SE, this location boasts an impressive daily vehicle count of approximately 65,000. The area is further enhanced by the presence of renowned retailers such as Target, Kohl’s, Michaels, Marshalls, Fred Meyer, and Chase Bank, ensuring sustained customer interest and foot traffic

Lease Summary

PROPERTY ADDRESS:

4044 Pacific Ave SE, Lacey, Washington 98503

GUARANTOR: 7-Eleven Corporate

OWNERSHIP TYPE: Fee Simple TERM: See Enclosed Rent Roll

EXTENDED TERMS: 3, 5-Year Options

LEASE TYPE: NNN

LANDLORD RESPONSIBLE: None

COMMENCEMENT DATE: September of 2022

LEASE GUARANTOR: 7-Eleven Corporate

S&P CREDIT RATING: AA-

PARENT COMPANY: Seven & Holdings, Ltd.

NUMBER OF LOCATIONS: ±70,000

HEADQUARTERS: Irving, TX

WEBSITE: www.7-Eleven.com

7-Eleven is the world’s #1 convenience store with sales of $89 billion in 2016. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 63,000 stores in 18 countries, including 10,900 in North America. 7-Eleven focuses on meeting the needs of convenience-oriented customers by providing a broad selection of fresh, high quality products and services at everyday fair prices, speedy transactions and a clean and friendly shopping environment. Each store’s selections of about 2,500 different products and services is tailored to meet the needs and preferences of local customers.

7-Eleven offers customers industry-leading private brand products under the 7-Select brand including healthy options, decadent treat and every favorites, at an outstanding value. Customers also count on 7-Eleven for payments services, self service lockers and other convenient services.

7‑Eleven was the first convenience store chain to develop proprietary technology for a full frictionless shopping experience from start to finish. Mobile Checkout works on both Android and iOS devices and is available for most 7-Eleven merchandise that has a bar code. Some items still require cashier assistance, such as financial services and age verified products (alcohol, tobacco and lottery tickets). The company plans to expand Mobile Checkout to all US stores by the end of 2022. Mobile Checkout is available at participating stores in major U.S. markets including New York City, Boston, Baltimore, Washington D.C., Philadelphia, Chicago, Orlando, Miami, Dallas, Denver, Las Vegas, San Diego, Los Angeles, San Francisco, Portland and Seattle.

To find the closest store that offers Mobile Checkout, customers can tap “find a store” in the 7‑Eleven app and select the Mobile Checkout filter.

source: https://corp.7-eleven.com/corp-press-releases/07-13-2021-7-elevenexpands-mobile-checkout-feature-to-thousands-of-us-stores

Rent Roll

$339,950.04 SCHEDULED INCOME

$339,950.04 NET OPERATING INCOME

$6,799,000 SALE PRICE

5.00% CAP

$355,114 MEDIAN PROPERTY VALUE

Rendering

Site Plan

Elevations

Surrounding Retailers

Lacey, WA

Lacey is a city in Thurston County, Washington, United States. It is a suburb of Olympia with a population of 42,393 at the 2010 census. Lacey is located along Interstate 5 between Olympia and the Nisqually River, which marks the border with Pierce County and Joint Base Lewis–McChord.

Lacey was originally called Woodland after settlers Isaac and Catherine Wood, who claimed land there in 1853. By 1891, the town of Woodland had a large enough population to apply for a post office. The request was denied because there was already a town called Woodland on the Columbia River. The name Lacey was chosen for the new post office application, presumably after O. C. Lacey, the local Justice of the Peace. The small settlements of Woodland and Chambers Prairie consolidated into Lacey in the 1950s. The city of Lacey was not officially incorporated until 1966. At the time, the main industries were cattle, milk, forest products, and retail. Lacey became a commuter town for Olympia, Fort Lewis and to some extent, Tacoma; in recent years, however, business developments, community groups, and population growth have led Lacey to develop into a city in its own right.

Lacey sported one of the Northwest’s first ever “indoor malls”, South Sound Center. It has since been partially demolished and turned into an outdoor shopping center. Lacey now features a diverse array of businesses, ranging from retail to warehousing/distribution centers, a large retirement community, and International Paper’s corrugated container facility.

As Lacey continues to grow, many businesses continue to feed into the city. Lacey now offers a Regal 16 Movie Theater, which is one of the largest theaters in the area. Other businesses that have recently come into Lacey include LA Fitness, Best Buy, Costco, The Home Depot, Lowe’s, Thrive Community Fitness Center, and many strip malls and market squares.

Sports outfitter Cabela’s opened its Lacey location in November 2007, its first store in the south Puget Sound area. It attracts fishing, hunting, and outdoor enthusiasts from around the state, many of whom spend more than three hours in the store per visit.

In addition to being the home of many public and private schools, Lacey is also home to Saint Martin’s University, Charter College and Thurston County’s largest school district, North Thurston Public Schools. Lacey is also home to various faith based schools, such as Holy Family School (Roman Catholic Preschool through 8th grade), Faith Lutheran School (Preschool through 8th Grade) and Foundation Campus, which includes Community Christian Academy (Pre school to Middle School) and Northwest Christian High School. Lacey is also the home of Pope John Paul II High School.