The Knipp Wolf Net Lease Group of Marcus & Millichap Announces the Sale Of 7-Eleven in Elkhart, Indiana

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a new 15-year, absolute net lease 7-Eleven in Elkhart, Indiana according to Tim A. Speck, division manager in the firm’s Dallas office.

Ryan Wolf, First Vice President Investments, and Vincent Knipp, Senior Managing Director Investments, in Marcus & Millichap’s Dallas office, represented the buyer for the purchase, which completed their 1031 exchange. Josh Caruana, First Vice President/District Manager, assisted in closing this transaction.

“It is rare to find these brand new 7-Eleven built-to-suits in the $3 million range,” said Wolf. ” I was able to help my client trade out of an older gas station in a sleepy market, into a new 15-year lease with 7-Eleven’s latest prototype.”

The property is less than 1.5 miles north of Downtown Elkhart and a short distance from the renowned University of Notre Dame campus.

According to Wolf, ” Security was my client’s main priority, and we bettered their position by trading into a property with better credit and market fundamentals.”

7-Eleven is located at 332 East Bristol Street in Elkhart, Indiana.