Tenant: Stripes | John Ben | Odessa, TX
Premises: 4,750 SF
Renewal Options: 2 x 5 Years
Lease Expiration: 9/30/2041
Rental Increases: CPI or 7.5% Every 5 Years, Whichever is Less
Sands Investment Group is Pleased to Exclusively Offer For Sale the 4,750 SF C-Store Absolute NNN Fee Simple Lease Investment Located at 5200 John Ben Shepperd Pkwy in Odessa, Texas. This Deal Includes a 20 Year Absolute Triple Net (NNN) Lease That is Available As a Portfolio or Individually, Providing For a Unique Investment.
In Cooperation With Sands Investment Group Austin, LLC
Lic. # 9004706 BoR: Max Freedman – Lic. # 644481
Read Additional Thought Leadership Content From SIG, Specializing in Absolute Triple Net Lease Opportunities
Stripes Stores is a chain of 700+ convenience stores in Texas, Louisiana, New Mexico, and Oklahoma. Stripes is one of the largest non-refining operators of convenience stores in the United States. Restaurant service is available in more than 415 of its stores, primarily under the proprietary Laredo Taco Company® brand, which serves hot, freshly made Mexican food. Stripes sells more than $1 billion of merchandise annually. In 2014, Stripes® Convenience Store and its parent company was acquired by Energy Transfer Partners L.P. Energy Transfer Partners (now legally Energy Transfer Operating L.P.) is a company engaged in natural gas and propane pipeline transport. With this, Stripes is now part of Sunoco LP (SUN), a master limited partnership that primarily distributes motor fuel to more than 3,330 convenience stores, independent dealers, and commercial customers and distributors in 9 states. In late 2017, all Stripes locations in Louisiana and parts of Texas were sold to 7-Eleven. 7-Eleven set out to buy all the Texas, New Mexico, and Oklahoma locations as well but could not get around a non compete agreement they have with Seven Eleven franchises such as Delek US Holdings.
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