A private investor has shelled out about $17.82 million in cash for two under-construction 7‑Eleven stores in the Phoenix metro, snapping up the retail pads while they are still working through permitting and buildout. The deal moves the projects off a developer’s balance sheet and into private investment hands, even though neither the buyer nor any operating partner has been publicly identified.
Deal details
The transaction was first reported by CoStar, which noted that Vequity LLC sold the two properties for roughly $17.82 million in an all‑cash deal. CoStar’s listing names an investment contact and describes the purchaser only as a “private investor,” while including the two Phoenix‑area sites in its broader property list. The report was published June 12 and is available only to subscribers, so the buyer’s identity stays behind the paywall for now.
What the Mesa site will look like
Mesa planning documents show the Power Road parcel is part of a 14.46‑acre retail center and is slated for a 4,650‑square‑foot 7‑Eleven with a fuel canopy, 16 pumps, and associated parking and landscaping. Those city filings list Vequity as the owner and describe the project as a piece of the Avalon Ranch development, which lines up anchors and restaurant pads around the Power and Elliot intersection. The packet lays out access points, pedestrian routes, and exterior materials intended to blend the station into the broader center, according to Mesa City.
Where the other parcel sits
The second site is in north Phoenix near Pinnacle Peak Road, as noted in CoStar. Together with the Mesa lot, the properties fit the profile of necessity‑oriented retail that investors often chase for stable, long‑term leases. CoStar’s coverage lists both locations and the core deal terms but stops short of naming the purchasing entity.
Seller profile and advisers
Vequity, a Chicago‑based retail developer, has a track record of building 7‑Eleven prototypes and other single‑tenant retail projects and highlights recent Phoenix work on its site. Axel Adler of Centennial Advisers shows up in commercial broker directories and maintains a profile on LoopNet, consistent with the kind of advisory roles that often accompany quick net‑lease dispositions. Developers frequently take branded pads from dirt to near completion, then sell to private capital buyers looking for predictable income streams.
Why investors still want 7‑Eleven pads
Market research continues to point to demand for necessity‑and‑convenience retail in Phoenix, with limited new supply in several suburban trade areas helping support investor interest in well‑located single‑tenant sites. Institutional Property Advisors notes tight availability across multiple Phoenix submarkets and ongoing leasing demand from convenience‑oriented retailers. Brokerage accounts of recent deals, including a newly constructed 7‑Eleven sale profiled by Secure Net Lease, illustrate how all‑cash investors can move quickly when assets line up with their investment criteria.
For neighborhood shoppers and local planners, the sale is another indication that private capital is still willing to bankroll ground‑up convenience projects with national tenants. Once the transaction posts, public deed and assessor records will reveal the buyer, and in the meantime, public parcel listings such as the LoopNet file for the Mesa lot offer basics like the Avalon Ranch subdivision and APN for anyone tracking the buildout from site plan to ribbon cutting.
