Prime Net Lease sells 12 Kum & Go's in the Last 12 Months
Prime Net Lease (PNL), a commercial real estate brokerage specializing in net lease investments, along with its affiliates, has successfully marketed and sold a dozen Kum & Go Absolute NNN Convenience Stores in the Last 12 months, eight of which were sold during the COVID-19 pandemic.
Michael Matusik, Vice President at Prime Net Lease, was the lead agent involved in marketing the properties to investors across the country, sourcing multiple offers on all locations and negotiated closings at, or very close to, the asking prices on all the transactions.
"Once certain businesses were deemed essential, investors flocked to those investments, effectively making it a sellers market. Kum & Go is a convenience store chain headquartered in Des Moines, Iowa, that operates around 400 locations across 14 states." Matusik said. "The biggest testament to their success is, they have remained open, paid rent in full and on time throughout these uncertain times"
Kum & Go's are typically sought out by high net worth investors who look to take advantage of the potential Bonus Depreciation that is associated with owning a convenience store/gas station.
"We have additional sites available off market and a few more in the pipeline, as well as a few 7-Eleven's throughout different states. We expect investors to continue to seek out these properties as a safe haven as we enter the second wave of the pandemic." Matusik said.
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