Thursday, May 29, 2014
West Brattleboro 7-Eleven is for sale
Source: Brattleboro ReformerBy Howard Weiss-Tisman
WEST BRATTLEBORO -- On Wednesday, 7-Eleven announced that it will sell 75 gasoline stations and convenience stores in 16 states, including the West Brattleboro store on Western Avenue.
In a press release, 7-Eleven vice president of mergers and acquisitions, Robbie Radant, said the stores that are being sold “do not fit 7-Eleven’s current business model.”
The 4,740-square-foot store on Western Avenue is leased by 7-Eleven and the company said the business and lease arrangement will be included in the sale. The company holds a lease until November, 30, 2016, and also has two, five-year options in the lease agreement.
The company said the new store that opens in the location will not be a 7-Eleven.
The 7-Eleven on Western Avenue opened in 1998. It is one of the largest stores that was put up for sale Wednesday among the 75 locations. The 7-Eleven on King Street in Northampton, Mass., is also included in the multi-store sale.
The sale is being managed by NRC Realty & Capital Advisors, and company Vice President of Marketing Tracey Suppo said the stores are being sold through a sealed bid process. Prospective buyers can make a bid for one, some, or all of the stores.
Suppo said 7-Eleven is accepting bids until July 29, and the company can accept bids, or reject them.
The Brattleboro 7-Eleven is the only Vermont store that was included in the announced 75-store sell off Wednesday. The company is selling 31 stores in Florida, 14 in Virginia, as well as stores in Illinois, Massachusetts, Texas, New York, Delaware, New Jersey, Utah, Arizona, Connecticut, Indiana, Maryland, Michigan and Pennsylvania.For more information on the sale go to www.nrc.com/1408.
To see a list of convenience stores for sale and gas stations for sale, click here.