Wednesday, February 5, 2014
7-Eleven Selling 72 Convenience Stores
Source: Convenience Store DecisionsBy CSD Staff
Properties in Texas, South Carolina, Pennsylvania and six other states.
7-Eleven Inc. has retained NRC Realty & Capital Advisors LLC to coordinate the sale of 72 gasoline stations and/or convenience stores.
The sale 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.
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 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. This sale provides another great opportunity for others already operating in these markets as well as for those looking to enter them,” said Dennis Ruben, executive managing director of NRC.
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. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at (800) 747-3342, extension 1402.
Property Specific Packages (PSP) are expected to be available in mid- to late-February, with a bid deadline of April 1, 2014.