Investor Picks Up Single-Tenant, NNN Ground Lease Asset in Oceanside
A NoCal private investor purchased a NNN ground lease occupied by a single-tenant 7-Eleven at Oceanside Plaza in San Diego County. The purchase price was $2.1 mil, which represented a cap rate of 4.29%.
Currently under construction, the soon to be completed approximately 2.4k sf 7-Eleven convenience store building plus gas station is situated on a 25.7k sf lot at 2003 Mission Ave in Oceanside. The property, which was the site of a former Union 76 gas station, is located at the signalized intersection of Mission Ave and Canyon Dr.
Jonathan Selznick, senior vice president at Hanley Investment Group, represented the seller, a private investor from Agoura Hills. The buyer was repped by Jay Patel of Cushman Wakefield in San Diego.