Tale of Two Cities, Two Convenience Store HQs
7-Eleven looking to suburbs, while Kum & Go may be heading downtown
Published in CSP Daily News
DALLAS & DES MOINES, Iowa -- Global convenience store company 7-Eleven Inc., which has occupied downtown Dallas office space for many years, is considering moving its headquarters to the northern Dallas suburbs, D magazine first reported.
7-Eleven--although owned by Tokyo-bases Seven & i Holdings--has had its headquarters in central Dallas for decades, and six years ago, the company moved to a new building in the downtown Arts District. Now the company is considering a restructuring of its corporate offices and a move to the suburbs, real-estate brokers confirmed for The Dallas Morning News.
Company officials are considering a new building on the north side of LBJ Freeway, just west of Interstate 35E, said the report. The low-rise office campus would be constructed in developer Billingsley Cos.' New Cypress Waters community.
Brokers said that the deal to move 7-Eleven out of the One Arts Plaza building--which Billingsley also owns--has quietly been in the works for months.
"7-Eleven wants to get out of downtown," one broker familiar with the deal told the newspaper. "They want to get up north where their people live."
The retailer is also hoping to reduce their office costs and have room for future expansion, the report said.
7-Eleven operates, franchises or licenses more than 10,300 c-stores in North America. Globally, there are some 52,500 7-Eleven stores in 16 countries. During 2012, 7-Eleven stores generated total worldwide sales close to $84.8 billion.
Meanwhile, several states to the east, Kum & Go LC is contemplating a move from its current West Des Moines, Iowa, headquarters to build a new HQ in downtown Des Moines, reported The Des Moines Register.
The company is working to secure a block of land north of the Pappajohn Sculpture Park, CEO Kyle Krause told the newspaper.
"There is great energy in downtown Des Moines," he said. "It's an exciting place for our corporate headquarters and provides an opportunity to design a workplace and have an environment that is great for our associates and great for downtown."
If all goes to plan, Kum & Go could move all of its approximately 250 corporate office employees downtown by late 2016 or early 2017, according to the report. By that time, Krause said, he expects there to be upwards of 300 employees.
"We're in growth mode," he said.
Since 2000, Kum & Go has been headquartered in an office building near the I-80-Jordan Creek Parkway interchange in West Des Moines. In 2005, the company sold the building and began leasing it from the new owner.
Kum & Go has nearly outgrown its current offices, Krause said.
There are no plans yet for the cost or design of a new downtown headquarters. It will be larger than the current 80,000-square-foot corporate office and could be two or three stories tall, Krause told the paper.
"We want to build a Kum & Go headquarters for our associates that can be an exciting, collaborative and engaging place for them to work," he said.
Kum & Go has approximately 430 c-stores in 11 states (Iowa, Arkansas, Colorado, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota and Wyoming).