Northmarq Commercial Investment Sales teams arrange combined $28.5 million sales of 4 convenience stores

TULSA, Okla. (Jan. 7, 2025) — Northmarq’s Commercial Investment Sales teams in their Pacific Northwest and Tulsa offices collaborated on the combined $28.56 million sales of four convenience stores located in Washington and Arkansas.

•    7-Eleven (Canyon View Blvd & Cascadia Blvd E, Tehaleh, WA)
•    Kum & Go (2222 Martin Luther King Jr. Blvd, Fayetteville, AR)
•    Kum & Go (508 E Oak St, Conway, AR)
•    Kum & Go (3418 E Johnson Ave, Jonesboro, AR)

Northmarq’s Tulsa team led by David Annett represented the buyer of all four locations, Maple Street Management. Northmarq’s Pacific Northwest team led by Sean Tufts, Kevin Adatto and Sean Mack represented the seller, Visconsi Companies Ltd. Represented the seller of the 7-Eleven in Tehaleh, Washington. The Tulsa team led by Chad Byerly represented the seller of the three Kum & Go locations, an individual investor.

“Given the sunsetting bonus depreciation that was put into place in the 2017 Tax Cuts and Jobs Act, we saw a flurry of buyer activity at the end of the year,” Annett said. “My client had a significant need for depreciation that few other asset classes outside of gas stations allow. We were able to source 3 of the 4 properties off-market through our Northmarq Broker Network.”

The 7-Eleven in Tehaleh is a triple net lease property. Built in 2023 and including roughly 4,870-sq.-ft., the location opened with reportedly strong sales and features a 5.4% target cap rate. It has 14 years remaining on its lease and is part of the new Tehaleh master plan development, which will include over 9,700 new homes, 475 acres of employment use and 1,800 acres of parks and trails over the next 10 years.

The Kum & Go in Fayetteville was built in 2023 and is an absolute triple net lease location. It features 4,000-sq.-ft. of building space on a 1.45-acre lot. The property has a 5.3% cap rate and is located right off Interstate 49 with nearby food options, hotels, a carwash, and more. It is just blocks from the University of Arkansas.

The Kum & Go in Conway was built in 2023 and is an absolute triple net lease location. It features a 6,162-sq.-ft. building sitting on 1.55 acres of land. The convenience store has a 5.35% cap rate. It is conveniently located right off Interstate 40 with nearby food options, hotels, Faulkner Plaza Shopping Center and more.

The Kum & Go in Jonesboro was built in 2021 and is an absolute triple net lease location. It is a 5,311-sq.-ft. building located on 1.75 acres of land and has a 5.57% cap rate. The Kum & Go is located near food and coffee options and is just blocks away from Arkansas State University.