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Tuesday, August 17, 2021

7-Eleven selling four Triad properties at auction

Source: Winston-Salem Journal
By Richard Craver

Four former Speedway convenience store properties are being sold at auction as part of 7-Eleven Inc.’s real-estate divesting initiative following its $21 billion purchase in May of the chain from Marathon Petroleum Corp.

7-Eleven acquired about 3,700 stores in the U.S., including 20 in Forsyth County and 58 in the Triad and Northwest North Carolina.

By contrast, 7-Eleven had just three stores in the 14-county region — in Hamptonville, Kernersville and King after a franchisee closed stores in Clemmons, Lewisville and Winston-Salem in 2018.

The affected Triad properties are at: 1650 Union Cross Road in Winston-Salem; 1407 Maple Ave. in Burlington’ 153 McKinney Road in Mount Airy; and Freeway Drive in Reidsville.

There is a Sept. 30 deadline for submitting a bid to NRC Realty and Capital Advisors on the 166 retail sites nationwide.

7-Eleven had about 14,000 stores in North America as of June. The company said that buying Speedway will give it stores in 47 of the nation’s top-50 metro areas. Marathon will provide the 7-Eleven stores with fuel supplies through 2035.

To see a list of convenience stores and gas stations for sale, click here.