Hanley Investment Group Arranges Record $12.18 Million Sale of 7-Eleven C-Store with Commercial Fueling Lanes in Madera, California
MADERA, Calif. — Hanley Investment Group has arranged the $12.18 million sale of a newly constructed, single-tenant 7-Eleven convenience store, gas station and commercial fueling facility in Madera, California, the firm announced. The transaction represents the highest-priced single-tenant 7-Eleven ever sold in California, the first single-tenant 7-Eleven C-store with commercial fueling lanes to sell in the state, and the first and only 7-Eleven location in the city of Madera.
Deal Details
The property is located at 3720 Avenue 17 in Madera, at the hard-corner intersection of Avenue 17 and Golden State Boulevard — one of the city's primary east-west corridors. The site encompasses 4.04 acres and features a 4,644-square-foot building, yielding an implied sale price of approximately $2,620 per square foot. The asset was leased to 7-Eleven, Inc. under a new 15-year triple-net lease at the time of sale.
Hanley Investment Group's Senior Vice President Sean Cox and Executive Vice President Bill Asher represented the seller and developer, Stock Five Development, Inc., based in Clovis, California. The buyer, a private investor from the San Francisco Bay Area, was represented by Dev Patel, a senior vice president with Kidder Mathews in San Diego.
"We identified a 1031 exchange buyer that was specifically seeking a single-tenant 7-Eleven and sourced this off-market opportunity through a long-standing developer relationship," Cox said. "We were able to procure the buyer prior to completion of construction and close escrow shortly after the tenant opened for business and began paying rent. This prototype is the first of its kind to sell in California as a single-tenant asset, which made the execution even more meaningful for all parties involved."
Next-Generation Fueling Format
The new 7-Eleven prototype at the Madera site includes EV charging stations and commercial diesel fueling lanes, reflecting the brand's expansion into next-generation fueling formats. The property's location adjacent to State Route 99 and near the future site of the North Fork Mono Casino were cited as key selling points.
"This sale set a new benchmark for the 7-Eleven brand in California," Asher said. "The combination of a new 15-year triple-net lease, expanded fueling program, and a prime location adjacent to State Route 99 and future home of North Fork Mono Casino, were highly attractive selling points for the buyer."
Four-Year Development Process Preceded the Sale
The Madera project represents the culmination of a nearly four-year development process led by Stock Five Development, which transformed a raw site into a fully entitled, infrastructure-complete regional commercial fueling destination. The effort included extensive coordination involving land planning, environmental review, off-site improvements, utility coordination, agency approvals, fuel system design and tenant-specific prototype execution.
Hanley Investment Group sourced the buyer off-market prior to construction completion, and the transaction closed shortly after the tenant opened for business and began paying rent.
Stock Five Development specializes in complex commercial and fuel-oriented developments throughout Northern California and the Central Valley, with expertise spanning land acquisition, entitlements, infrastructure development, tenant coordination and build-to-suit execution.
Hanley Investment Group's 7-Eleven Activity
The Madera transaction extends Hanley Investment Group's activity in the 7-Eleven category. The firm previously arranged the sale of a new-construction 7-Eleven commercial fueling lanes prototype in San Bernardino, where the convenience store and commercial fueling lanes were sold in two separate transactions. The firm has also recently closed on two additional 7-Eleven-occupied properties in Sacramento and Clovis, California.
7-Eleven, Inc. is a wholly owned subsidiary of Tokyo-based Seven & i Holdings Co., Ltd. (TSE: 3382; OTC: SVNDY), carries an investment-grade credit rating of A from S&P, and operates, franchises and licenses more than 85,000 stores across 20 countries, including 13,000 locations in North America, making it the largest convenience-store retailer in the world.
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a transaction track record of $12.9 billion, specializing in the sale of retail properties nationwide. For more information, visit hanleyinvestmentgroup.com.
Sources: Hanley Investment Group