7-Eleven, Parkway Village

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a brand-new construction single-tenant 7-Eleven (the “Property” or “Asset”) offering located in St. Augustine, FL. With construction completed on November 1, 2022, the ground lease has the full 15 years remaining, providing the opportunity to acquire a secure cash flow backed by 7-Eleven’s investment grade credit (S&P: ‘A’).

With excellent visibility and frontage along International Golf Parkway (22,500 VPD) and State Road 16 (19,400 VPD), this property benefits from being on the hard corner of a highly trafficked retail area. The Publix in the adjacent shopping center is in the 95th percentile of Publix in the nation by visits, attracting 1.2 million shoppers annually per Place.ai. The Asset sits in a newly constructed, Publix-anchored center that features national tenants. It will be the go-to site for the surrounding community, with population growth of 58.7% in a 3-mile radius over the last 10 years, and travelers from Jacksonville who are drawn to the five championship golf courses in the area, including the World Golf Village resort.

STRATEGICALLY LOCATED REAL ESTATE

• The site is an outparcel to a newly constructed, Publix-anchored center that sits in a dense retail corridor. The Publix in the adjacent shopping center is in the 95th percentile of Publix in the nation by visits, attracting 1.2 million shoppers annually per Place.ai.

PROXIMITY TO WORLD GOLF VILLAGE

• The Asset is set immediately proximate to the World Golf Village. The 6,300-acre golf resort and residential community is home to the World Golf Hall of Fame, PGA Tour Products Headquarters, the first-ever PGA Golf Academy and two world-class golf courses.

BRAND NEW GROUND LEASE WITH NO LANDLORD RESPONSIBILITIES

• The Property has a $178,000 NOI and is operating on a brand new, 15-year ground lease with 10% rent bumps every five years including extension options.

INVESTMENT GRADE TENANCY FROM THE GLOBAL C-STORE LEADER

• 7-Eleven carries an investment grade rating from S&P (A) with a “stable” outlook. They are the largest player in the convenience store industry with increasing Revenue and EBITDA over the last five years.