Century Partners Real Estate Inc. is pleased to present the rare opportunity to acquire a Speedway gas station & convenience store located in the San Francisco Bay Area (Daly City), California. The property, which has operated continuously since 1984 (40+ years), is located on the high-traffic, hard-corner signalized intersection of Serramonte Blvd and Gellert Blvd, a critical crossroads in the primary retail district of Daly City carrying over 50,000 vehicles daily.
The property is nestled amongst a major retail pocket, across the street from Target-Anchored Serramonte Center and Sprouts-Anchored Gellert Marketplace. Over 30 major national retail occupiers have chosen to operate in the immediate surrounding market, including McDonald's (directly next to the property) Panera Bread, Verizon, Dick's Sporting Goods, and more, underscoring the incredible real estate fundamentals of the site.
The property features a 5-year absolute NNN lease, with a 10% rent bump in the upcoming option period.
Speedway was recently acquired by 7-Eleven for $21 billion in 2021. The acquisition greatly expanded 7-Eleven's North American presence, increasing its store count to approximately 14,000 and and enhancing its footprint in key metropolitan areas, particularly in the Midwest and East Coast. The move was seen as a strategic fit for 7-Eleven, allowing the company to optimize operations, boost efficiencies, and further solidify its leadership in the convenience retail industry.