The Property is ideally positioned at the signalized hard corner of PA Highway 228 and Mars Valencia Road, benefiting from strong visibility to over 24,000 vehicles passing daily. Situated south of historic downtown Mars, the Property sits at one of two primary intersections of PA Highway 228 surrounded by auto service retailers, generating significant synergies with residents traveling to the location for auto repair. Additionally, frontage along the highway generates significantly more traffic than competition in the area, as the 7-Eleven is the only gas station along the thoroughfare for nearly two miles. These strategic locational attributes, paired with a premier demographic profile ($151,000 AHHI within 3 miles) and proximity to Cranberry Township, a retail destination for the northern Pittsburgh MSA, generates significant residual value and solidifies the long-term viability of the location.
JLL is pleased to offer for sale the fee-simple interest in a single-tenant gas station leased to 7-Eleven, Inc. (the “Property” or “Asset”) in Mars, Pennsylvania. Strategically located along the primary artery connecting Interstates 76/79 and PA Highway 8, the Property benefits from over 18,000 vehicles passing daily with strong visibility along PA Highway 228. The Property’s positioning at a signalized hard corner makes it rare along PA Highway 228, as it is one of only two stoplights as the highway passes through Mars. Further evidencing the stability of the location, the gas station has been in operation since 1988 and was recently assumed by 7-Eleven, extending their lease in 2018 and demonstrating commitment to the site. 7-Eleven operates under an absolute triple net lease featuring zero landlord responsibilities, 8.5 percent increases every five years, and two, five-year options for renewal. Given the investment grade credit profile of the tenant, investors are provided significant security in the cash flows as well as the stability of the tenancy. This offering presents the unique opportunity to acquire a long-historically occupied 7-Eleven location leased by an investment grade entity in a location demonstrating strong real estate fundamentals.