**7-Eleven Exercises Right of First Refusal, Acquires Oakley Store**
RealSource Group has successfully closed the sale of a single-tenant 7-Eleven convenience store and fuel station located in Oakley, California. While the sale price and capitalization rate remain undisclosed, the deal marks a notable benchmark. According to CoStar, it represents the lowest cap rate recorded for a 7-Eleven ground lease in California in the past three years for leases with fewer than 10 years remaining.
The seller, California Capital & Investment Group—a private investment firm based in the Bay Area—was represented by Jonathan Schiffer, Senior Associate, and Austin Blodgett, Senior Vice President of RealSource Group. The buyer, 7-Eleven, Inc., exercised its right of first refusal after the RealSource team fielded multiple competitive offers.
Constructed in 2019, the 3,795-square-foot store occupies a 1.26-acre parcel at 1050 Laurel Road, strategically positioned at a signalized intersection with O’Hara Avenue. The location benefits from high traffic exposure, with more than 32,000 vehicles passing daily. The property is operating under a triple-net ground lease with over nine years remaining on the original 15-year term.
