Marcus & Millichap Facilitates $9.5 Million Sale of Wesley Chapel 7-Eleven
By Post
Tampa Bay Newswire
Published: Oct 23, 2023

WESLEY CHAPEL, Fla., Oct. 23, 2023 – 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 7-Eleven in Wesley Chapel, Florida. The asset sold for $9,495,257.

“This deal solidifies the continued demand for well-located credit tenant assets in Florida,” says Jonathan De La Rosa, senior vice president of investments. “It’s a challenging time to sell fixed income products at a 5% return; however, investors continue to pursue fee simple gas stations for bonus depreciation purposes.”

De La Rosa, Ronnie Issenberg, Gabriel Britti, Ricardo Esteves, and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a Florida developer. Steven Siegel and Michael Kook, investment specialists in Marcus & Millichap’s Manhattan office, procured the buyer, a private investor, looking to complete a 1031 exchange.

The newly constructed 7-Eleven is located at 30080 Overpass Rd. directly off the newly widened Interstate-75 Overpass Road and Boyette Road within the rapidly expanding, Connected City area of Wesley Chapel, one of the fastest-growing submarkets in the Greater Tampa Market. The 5,635-square-foot property features a Laredo Taco Restaurant and car wash.