Morgan Property Group, LLC is pleased to announce the sale of a 7-Eleven gas/convenience store located in the northwest corner of N. Tryon St. and W. Craighead Rd. in Charlotte, NC.
This store was developed by SDC X Tryon, LLC, an affiliate of MPG, in December 2014. It features a 2,490 sq.ft. convenience store with eight pumping stations. 7-Eleven signed a 15-year ground lease with four, five-year term options.
On September 14, 2015, the property sold to Bhagat 5250, LLC for a sales price of $1,660,000. Marcus & Millichap Real Estate Brokerage Company facilitated the transaction.
“7-Eleven remains one of the great retailers in Charlotte and indeed the United States,” said Trey Morgan, President of MPG. “As a national credit tenant they are a great investment option for many investors.”
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses nearly 10,500 7-Eleven® stores in North America and more than 56,600 7-Eleven stores globally, in 16 countries. 7-Eleven’s recent accolades include: #2 on Franchise Times Top 200 Franchise Companies for 2013, #2 on Entrepreneur magazine’s 2015 Top Global Franchise list, #10 spot on Entrepreneur magazine’s Franchise 500 list for 2015, and #3 in Forbes magazine’s Top 20 Franchises to Start. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
For over thirty-eight years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.