QuikTrip Sells NNN-Leased Convenience Stores in Sale-Leaseback Deal
QuikTrip Corp. struck a deal with a private Midwest buyer to sell two of its NNN-leased Central Texas convenience stores, one in San Antonio and one in Cedar Park. The assets’ sales price was not disclosed, nor was the seller, due to confidentiality issues.
David Disney and Adam Crocket with Disney Investment Group co-brokered the transactions with Matthews Real Estate and Secure Net Lease.
Both stores recently opened. In San Antonio, the store is situated on 1.3 acres at 310 San Pedro Ave. The property had an asking price of $6.4 million, at a 5.5% cap rate. The other store is located at 1911 N. Bell Blvd. in the north Austin suburb. A little more than 14 years remain on the leases at both locations.