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Friday, October 5, 2012

Bids Due Nov. 8 on 30 7-Elevens

Source: The Buffalo News
By Jonathan Epstein

The Chicago-based real estate brokerage firm that is handling the auction of 30 7-Eleven convenience store locations ? including two in Buffalo and one in Niagara Falls ? has extended the deadline for bids by three weeks to give more time for offers to come in.

NRC Realty & Capital Advisors announced by email notice Wednesday that bids for the sites, all former Wilson Farms locations, are now due Nov. 8. They had originally been due Oct. 18.

Dallas-based 7-Eleven Inc. put the 30 sites in upstate and Western New York up for sale in August through a sealed-bid process run by NRC. The stores, which range in size from 1,100 square feet to 3,525 square feet, include six stand-alone stores and 24 that also sell Mobil, Sunoco or unbranded gas, with most of them leased through 2015.

The locations stretch from Fredonia to Lake Champlain, but only seven are in the eight-county Western New York region. Besides the Buffalo stores - located in the 136 North dormitory building of Erie Community College at 136 North Division St. and at 1540 Broadway - and the Niagara Falls location at 1500 Main St., there are two in Batavia and one each in Albion and Fredonia. Others are in Rochester, Watertown and Elmira.

The convenience store giant acquired the 188-store Wilson Farms chain last year from a private equity firm and the Nanula family, and has been remodeling and converting most of the stores to its own brand. 7-Eleven operates, franchises or licenses about 9,400 stores in North America and more than 47,300 in 16 countries worldwide.

To see a list of convenience stores for sale and gas stations for sale, click here.