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DALLAS -- Real estate Web site GlobeSt.com reported yesterday that 12 -- 7-Eleven stores located in strip centers in Nevada, Texas and Virginia were sold to five different buyers for a combined value of more than $20 million in cash.
Seller representative Mehran Foroughi, senior vice president for Colliers International, Irvine, Ca., told GlobeSt.com that five stores in the Dallas metropolitan area were sold to a California buyer, six stores in Virginia were bought by three individual buyers, and a lone store in Las Vegas was gobbled up by a Dallas-based company.
"These were extremely hot properties, and we received a number of offers on them," said Foroughi, who partnered with Sam Nakhleh, vice president of Colliers' Vancouver office to represent 7-Eleven Inc. "We didn't have these on the market for very long until they went under contract."
Foroughi additionally told the real estate web site there is a great deal of demand for single-tenant, triple-net-lease assets like the ones that were just sold. The credibility of 7-Eleven tenants helped fuel the interest in the portfolio, he added.
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