7-Eleven Puts 72 Recently Acquired Stores Up For Sale
Sites "simply don’t fit" company's business model
Published in CSP Daily News
DALLAS -- Declaring they no longer fit the retailer’s business model, 7-Eleven Inc. has put 72 of its gasoline stations and/or convenience stores up for sale, as reported in a 21st Century Tobacco/CSP Daily News Flash. The sale, arranged by NRC Realty & Capital Advisors LLC, includes 22 locations in Texas, 17 in South Carolina, 12 in Pennsylvania, nine in Ohio, four in Michigan, three in Indiana, three in West Virginia, one in Florida and one in Utah.
Of the 22 Texas sites, 11 are in the San Antonio area, five are in or near Dallas-Fort Worth, two are in the Houston area, one is in Austin, and the remaining three are in surrounding areas.
“There are some terrific properties in this package that simply don’t fit 7-Eleven’s business model,” said Robbie Radant, 7-Eleven vice president of mergers and acquisitions. “All of these stores were part of the more than 1,000 sites we’ve acquired in the past three years and should provide great opportunities for the right buyers.”
Lot sizes range from approximately 8,000 square feet to 5.6 acres, while store sizes range from kiosks to 4,640 square feet. Fifty of the sites being offered are fee-owned properties, and the remaining 22 are leaseholds. All sites are being sold without 7-Eleven branding. Most sites are offered for sale with fuel supply, which would be provided by SEI Fuels, Inc., a 7-Eleven subsidiary.
“These properties are located in major metropolitan areas in many of these states and other prime markets,” said Dennis Ruben, executive managing director of NRC. “This sale provides another great opportunity for others already operating in these markets, as well as for those looking to enter them.”
The properties will be sold using NRC’s well-known “buy one, some or all” sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/1402.
Based in Dallas, 7-Eleven operates, franchises or licenses more than 10,300 7-Eleven stores in North America.
NRC Realty & Capital Advisors LLC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries and specializes in the accelerated sale of commercial and residential real estate. NRC’s breadth of experience in the convenience-store arena includes portfolio evaluation and analysis; refinancing, recapitalization & sale-leaseback financing options; and merger and acquisition advisory services.