Franklin Street has arranged the sale of American Freedom Fuel, a 3,350-square-foot service station at 6555 W. Boynton Beach Blvd. in Boynton Beach.
Private investor Alberto Lensi acquired the 1.2-acre retail site in a 1031 exchange from Woolbright Fountains LLC for $6.45 million or $1,925 per square foot.
Greg Matus, Adam J. Tiktin, Jonathan de Maa, and Alex Lazo of Franklin Street’s Florida Investment Sales Team represented the buyer in this transaction. The deal closed on June 8.
“The demand for conveniently located service stations with convenience stores continues to be very strong. As essential businesses, they are recession and Internet resistant tenants, providing for a secure investment,” stated Matus, managing director, Franklin Street’s investment sales team. “We are thrilled to have successfully navigated the complex due diligence period and close on time for both parties,” he added.
The service station was constructed in 1995 and remodeled in 2008. American Freedom Fuel has been a tenant for over 13 years and has over six years remaining on its current lease term. American Freedom Fuel is situated at the northwest corner of West Boynton Beach Boulevard and Jog Road offering heightened visibility and easy access. The property benefits greatly from the robust customer base drawn in by the neighboring national brands such as Publix and its shadow-anchored outparcel gas station, LA Fitness Signature Club, USPS, Goodyear Tire and Auto Care, McDonald’s, Duffy’s Sports Grill, Synovus, Sprouts, Synovus and Aspen Dental.
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