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Thursday, July 30, 2015

7-Eleven Selling Locations In 10 States

Source: carwash.com

DALLAS — 7-Eleven Inc. is selling 25 gas stations and convenience stores in 10 states, according to CSPnet.com.

Locations, stated the article, include: one in Nevada, New York and South Carolina; two in Missouri and Florida; three in Colorado, Texas, Illinois and West Virginia; and six locations in Virginia.

All the locations being sold are operational, reported the article, and 16 sites are c-stores with gasoline while the other nine sites being sold do not offer fuel.

“This package contains many high-quality assets that simply do not fit 7-Eleven’s current business model,” said Robbie Radant, 7-Eleven vice president of mergers and acquisitions, in the article. “All of these stores should provide good opportunities for the right buyers.”

Store sizes range from approximately 1,375 to 4,390 square feet with lot sizes ranging from 8,000 square feet to 1.7 acres, the article continued.

Five of the locations are leaseholds while the 20 other sites are fee-owned properties, added the release.

7-Eleven is selling all of the 25 sites without its company’s branding, noted the article, and 10-year fuel supply agreements with 7-Eleven subsidiary SEI Fuels Inc. are being offered to all sites that sell fuel.

“These properties are located in major metropolitan areas in many of these states and other prime markets,” said Dennis Ruben, executive managing director of NRC Realty & Capital Advisors LLC, in the article. “This sale provides another great opportunity for others already operating in these markets as well as for those looking to enter them.”