Tuesday, April 23, 2013
7-Eleven, Inc. Retains NRC Realty & Capital Advisors to Sell 139 Convenience Store Properties in Texas, Florida and Four Other States
Source: NPN Magazine
NRC Realty & Capital Advisors, LLC (Chicago, Il.) has announced that it has been retained again by 7-Eleven, Inc. 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.
In announcing the sale, Robbie Radant, 7-Eleven vice president of mergers and acquisitions, said, "There are some terrific properties in this package that simply don't fit 7-Eleven's business model. 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. One Hundred eighteen of the sites being offered are fee-owned properties and the remaining twenty one 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.
Dennis Ruben, executive managing director of NRC, said, "These properties are located in major metropolitan areas in Texas and other prime markets. This sale will provide great opportunities for others already operating in these markets as well as for those looking to enter them."