SAN DIEGO—The 7-Eleven location at 7807 Balboa Ave. in San Diego, Calif. sold for $3.7 million. Lee & Associates brokered the retail sale for the 2,200-sq.-ft. property.
“This is an outstanding corner in the middle of Kearny Mesa and is a prime investment offering long term security for my clients,” Jim Casale, principal at Lee & Associates in San Diego, said in a statement.
The property was constructed in 2012. 7-Eleven has a lease there to 2027 with options to renew. The Sands Group represented seller VRE Balboa LLC. The buyer was an unnamed family trust.
“We competed with multiple offers and presented a comprehensive package showing my client’s expertise and our ability to close quickly on an all cash basis," Casale said. "That ultimately won us the deal.”