A 7-Eleven convenience store and gas station at 394 W. Ashlan Ave. in Clovis recently sold for $5 million to a Bakersfield investor in a transaction brokered by Hanley Investment Group. (Photo courtesy of Hanley Investment Group)
A Clovis 7-Eleven convenience store and gas station sold for $5 million in a transaction brokered by Newport Beach-based Hanley Investment Group.
The sale involved the single-tenant property at 394 W. Ashlan Ave., a convenience store and gas station operated by 7-Eleven. The seller was a Los Angeles-based private investor and the buyer was a Bakersfield investor completing a 1031 exchange.
Hanley Investment Group Vice President Jacob Fahner and Executive Vice President Jeremy McChesney represented the seller. Jeffrey Leggio of ASU Commercial represented the buyer.
“The successful execution of this transaction reflects the strength of the 7‑Eleven brand and the depth of capital pursuing essential retail investments throughout California,” Fahner said. “7 Eleven’s combination of investment grade credit, unmatched global scale and an evolving operating platform continues to position the brand as one of the most sought-after net lease investments nationwide.”
The property is adjacent to a WinCo Foods-anchored shopping center and is positioned at a high-traffic intersection that sees more than 75,000 vehicles daily, according to Hanley Investment Group.
“According to customer traffic data from Placer.ai, the location ranks among California’s top-performing 7-Eleven stores.”
Fahner said the property attracted investors because of its combination of investment-grade tenancy, bonus depreciation eligibility and relatively accessible price point.
The sale follows another major Central Valley convenience store transaction brokered by Hanley Investment Group that set a California record for the highest-priced single-tenant 7-Eleven sale.
The Madera property, which sold for $12.18 million, also includes commercial diesel fueling lanes, electric vehicle charging stations and a 15-year triple net lease.
Hanley Investment Group said it has brokered more than $60 million in corporate convenience store and gas station transactions across California during the past year.