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Sunday, May 25, 2014

7-Eleven selling Lutz location, 74 others

Source: The Laker / Lutz News

The 7-Eleven store at 23434 State Road 54 in Lutz, is one of 75 stations across the country 7-Eleven Inc. is putting up for sale.

Robbie Radant, a vice president with the company, said 7-Eleven is cutting loose stores like the Lutz one not because it’s underperforming, but because it no longer fits with its overall goals.

“There are many nice sites in this package that simple do not fit 7-Eleven’s current business model,” Radant said in a release. “All of these stores have solid merchandise sales, and should provide good opportunities for the right buyers.” However, it’s likely that last year’s opening of a competing RaceTrac just next door may have played a role in why the 7-Eleven is hitting the market, after decades of minimal competition on its stretch of State Road 54.

7-Eleven is looking to part ways with 31 stores in Florida, along with 14 in Virginia, six in Massachusetts and Illinois, three in Texas and two in New York, Delaware, New Jersey and Utah. The company is selling single stores in Arizona, Connecticut, Indiana, Maryland, Michigan, Pennsylvania and Vermont.

The Lutz site will not include the 7-Eleven branding, but could include a fuel contract with SEI Fuels Inc., a subsidiary of 7-Eleven, the company said.

7-Eleven has brought in NRC Realty & Capital Advisors of Chicago to conduct the sale, which will accept sealed bids from groups looking to buy single or multiple locations. The bid deadline is July 29.

The Lutz 7-Eleven opened in 1987 with a 3,100-square-foot store along State Road 54 when it was still a two-lane road. It includes a 10-year fuel contract.

For information on the sale, visit NRC.com/1408, or call (800) 747-3342, ext. 1408.