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Friday, October 28, 2022

Lakehurst 7-Eleven closing; 18 NJ 7-Eleven and Speedway convenience stores to be sold

Source: Asbury Park Press
By David P. Willis & Amanda Oglesby

LAKEHURST - 7-Eleven is closing its convenience store on Route 70 next week as it seeks to further shed locations by selling 18 7-Eleven and Speedway stores in New Jersey.

Signs inside Lakehurst's 7-Eleven tout the store's closure. "Everything must go," one sign states, offering storewide discounts. A store employee said the store's last day is Nov. 3.

A 7-Eleven representative could not be reached for further comment.

But big convenience is not leaving Lakehurst completely. Wawa has started to build its new store at Lilac Street and Union Avenue near Route 70.

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7-Eleven, the largest U.S. convenience store chain, is in the midst of downsizing, a year after it purchased Speedway. While it is closing the Lakehurst store, 7-Eleven is selling 73 others in 22 states.

Of the 18 in the Garden State, three stores – a Speedway convenience store with fuel on Hooper Avenue in Toms River, a 7-Eleven in Kohl's Plaza on Route 35 in Holmdel and a 7-Eleven in Settler's Landing shopping center on West Bay Avenue in Barnegat – are in Monmouth and Ocean counties.

The sales, some of which are for leases and others which include the property too, are being run by NRC Realty and Capital Advisers. They are being sold without the brand.

Growing chain:Brick getting its sixth Wawa convenience store

"Smaller and regional operators have been looking for ways to increase their store holdings over the past several years," said Ian Walker, senior vice president of NRC, in an article by CSP Daily News. The sale "will create opportunities for retailers of all sizes, including individual operators."

Based in Irving, Texas, 7-Eleven operates, franchises or licenses more than 13,000 stores in the U.S. and Canada. It purchased about 3,800 Speedway stores, which were formerly part of Hess Corp.’s retail operations, from Marathon Oil in 2021.

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