Monday, April 22, 2013
7-Eleven Selling 139 C-Store Properties
Properties in Texas, Florida, Ohio, Pennsylvania, Utah and Wisconsin are scheduled for a sealed-bid auction.
Source: Convenience Store DecisionsBy CSD Staff
7-Eleven Inc. has retained NRC Realty & Capital Advisors LLC (NRC) to coordinate the sale of 139 gasoline stations and/or convenience stores, 83 of which are located in Texas, 31 in Florida, 11 in Ohio, eight in Pennsylvania, five in Utah and one in Wisconsin.
Of the 83 Texas sites, 43 are located in the Dallas-Fort Worth metropolitan area, 10 are in the San Antonio market, 10 are near Austin, and the remainder are located throughout east Texas. Of the 31 Florida sites, 12 are located in South Florida, 12 are located in the Orlando area, five are located in the Fort Myers area and two are located in Sarasota.
"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 10,000 to 75,000 square feet, while store sizes range from kiosks to 6,700 square feet. A total of 118 sites are fee-owned properties and the remaining 21 are leaseholds. All sites are being sold without 7-Eleven branding. Most sites are being offered for sale with fuel supply, which will be provided by SEI Fuels Inc.
The properties will be sold using NRC's well-known "buy one, some or all" sealed-bid sale process. It is anticipated that the sale will be launched on April 24, when additional details about all properties will be available on the NRC Website, and a brochure will be available for download.
Property Specific Packages (PSP) are expected to be available in mid to late May, with a bid deadline of June 27, 2013. Interested parties may view a complete site list and register online for sale updates at www.NRC.com/1305, or by calling the NRC Customer Service Center at 800-747-3342, extension 1305.
"These properties are located in major metropolitan areas in Texas and other prime markets," said Dennis Ruben, executive managing director of NRC. "This sale will provide great opportunities for others already operating in these markets as well as for those looking to enter them."