Nashville Developer Pays $31M for 7-Eleven Store
It’s no secret that convenience store companies are as much in the real estate business as in retail. Very often, flipping a shrewdly bought parcel makes considerably more than selling super-sized soft drinks. One such instance is the recent sale of a 7-Eleven in Nashville.
The Nashville Business Journal reports a Nashville developer paid $31 million for a downtown 7-Eleven. The convenience store giant paid $7.85 million for the 1.18-acre property at 1101 Broadway in January 2018.
Texas-based Endeavor Real Estate, who developed a nearby mixed-use Broadway tower anchored by a Whole Foods, bought the downtown property. The 7-Eleven site is located across the street from the Whole Foods tower and less than two blocks away from two of the company’s residential highrises. The developer has plans for a high-end hotel and residential tower at the corner of 12th Avenue and McGavock Street. The recently acquired 7-Eleven property neighbors the site.
