JLL claims cap rate record on 7-Eleven sale

JLL claims to have netted a record in its sale of a net-lease property in Orlando, Fla.

In closing the $6.25 million sale of a 2,990-sq.-ft stand-alone 7-Eleven on a main-and-main location, he company’s Capital Markets unit said the sale’s capitalization rate of 4.17% was the lowest cap rate realized on any 7-Eleven property outside of California. 

According to John Krzyminski, this record-breaking 7-Eleven transaction demonstrates the strength of the net-leased market is in Orlando.

“Orlando has a lot of strong real estate fundamentals and is a leader, nationally, in a lot of economic categories such as job and population growth and is continuing to attract attention from different sectors like technology, defense and financial to name a few,” Krzyminski said.

JLL marketed the property on behalf of the seller, Colonial 7-Eleven LLC. Massimo Guarini, a private investor, purchased the asset.