SRS Real Estate Partners has completed the $5.24 million sale of a 3,651-square-foot 7-Eleven property located near the coast at 1920 W Balboa Boulevard in Newport Beach. Situated on the famous Balboa Peninsula just south of Pacific Coast Highway, the property was built in 1975 and 7-Eleven has been at the site for more than 48 years.
SRS Capital Markets Vice President Kevin Held represented the seller, a California-based family trust. The buyer was a California-based private investor.
“This was a rare opportunity for an investor to own a property occupied by a high-credit, long-term tenant in one of the top beach city locations in the nation. This area has extremely high barriers to entry for retailers and rarely any triple-net retail for sale,” said Held. “This high-profile asset provides a stable, passive, cash-flowing income for the new ownership.”
This year, SRS Capital Markets has completed more than $1.7 billion in deal volume comprised of more than 500 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.