Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased 7-Eleven in Seaford, Delaware according to Sean Beuche, regional manager and Delaware broker of record who assisted in the closing. The property is located at 23463 Sussex Hwy, Seaford, Delaware 19973.
“This site presented incredible real estate fundamentals with a long-term, absolute triple-net lease backed by 7-Eleven corporate. The Pittsburgh-based developer did a fantastic job positioning this property on the commuter corridor of Sussex Highway in Seaford, Delaware,” said Steve Garthwaite, first vice president investments.
Further, this property sits in a strong market, as Sussex Highway sees 19,600 vehicles per day, contributing greatly to the foot traffic at this property. The surrounding area is home to 27,032 people within a five-mile radius, and the average household income is $70,546. Aside from the 7-Eleven, the property is a short distance from other retail hubs with notable tenants including: Petco, Chick-Fil-A, Wawa, Domino’s, Lowe’s, Walmart, Starbucks, Advanced Auto Parts, and Dollar Tree.
“The buyer was a private fund investor based out of Teterboro, New Jersey, with intention to hold this property long-term for cash flow generation,” added Garthwaite. Derrick Dougherty, senior vice president investments, assisted Garthwaite in the transaction.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
