Boulder Group Arranges Virginia 7-Eleven Sell
- Sep 20, 2019
The Boulder Group has secured the sale of 7-Eleven, a 2,940-square-foot retail property in Fredericksburg, Va. The single-tenant asset traded for $3.2 million. The company’s Randy Blankstein and John Feeney worked on behalf of the seller and the buyer in the transaction.
Located at 1 Commerce Parkway, off Interstate 95 and along Highway 17—a primary east-west thoroughfare—the property is situated in a retail corridor with tenants such as Walmart, Target, Lowe’s, Giant Food, Lidl, ALDI and Weis Markets.
The retail company has signed a lease extension this year, which will expire in June 2032. Within a 5-mile radius of the property reside nearly 70,000 people earning an average household income of $95,824. The city provides convenient access to south of Washington, D.C. and to Richmond.
According to The Boulder Group’s new report, cap rates in the retail subsector continue to decline and dropped to its lowest point ever.