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Wednesday, July 29, 2015

7-Eleven Divesting 25 Convenience Stores in 10 States

Source: Convenience Store Decisions
By CSD Staff

7-eleven 125C-stores for sale in Virginia, Texas, Florida and Illinois, among other states.

7-Eleven Inc. is selling 25 gas stations/convenience stores, and has retained NRC Realty & Capital Advisors LLC to coordinate the sale.

The sale includes six locations in Virginia, three each in Colorado, Illinois, Texas and West Virginia, two each in Florida and Missouri, plus one each in Nevada, New York and South Carolina.

“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. “All of these stores should provide good opportunities for the right buyers.”

Lot sizes range from 8,000 square feet to 1.7 acres, while store sizes range from approximately 1,375 square feet to 4,390 square feet. Of the sites being offered, 20 are fee-owned properties, and the remaining five are leaseholds. All sites are being sold without 7-Eleven branding. All sites that sell fuel 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,” said Dennis Ruben, executive managing director of NRC. He added, “This sale provides another great opportunity for others already operating in these markets as well as for those looking to enter them.”

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/1510. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1510.

Property Specific Packages (PSP) are expected to be available in early August, with a bid deadline of Sept. 10, 2015.