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11/22/16
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A 2.4k sf 7-Eleven convenience store in Long Beach sold for $3.65 mil ($1,520/sf). The property is 100% leased to 7-Eleven Inc on a 10-year lease.
The 7-Eleven sits on a 6.8k sf lot at 225 Orange Ave, on the corner of Orange and Broadway. The property is within a half-mile to the Long Beach Convention Center and Downtown Long Beach.
Rick Gold and Dan Spell with NAI Capital represented the buyer, BND LLC. The seller was Swall Investments.
Gold said, “7-Eleven has been at this location for 40 years. This is a solid 10-year investment for our client, with the security of a corporate guaranty from a billion dollar company.”
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