Wednesday, February 5, 2014
7-Eleven, Inc. Retains NRC Realty & Capital Advisors to Sell 72 Convenience Store Properties in Texas, South Carolina, Pennsylvania and Six Other States
CHICAGO, IL (February 5, 2014) - NRC Realty & Capital Advisors, LLC announced today that it has been retained again by 7-Eleven, Inc. to coordinate the sale of 72 gasoline stations and/or convenience stores. This includes 22 locations in Texas, 17 in South Carolina, 12 in Pennsylvania, nine in Ohio, four in Michigan, three in Indiana, three in West Virginia, one in Florida and one in Utah.
Of the 22 Texas sites, 11 are in the San Antonio area, five are in or near Dallas-Fort Worth, two are in the Houston area, one is in Austin, and the remaining three are in surrounding areas.
In announcing the sale, Robbie Radant, 7-Eleven vice president of mergers and acquisitions, said, "There are some terrific properties in this package that simply don't fit 7-Eleven's business model. All of these stores were part of the more than 1,000 sites we've acquired in the past three years and should provide great opportunities for the right buyers."
Lot sizes range from approximately 8,000 square feet to 5.6 acres, while store sizes range from kiosks to 4,640 square feet. Fifty of the sites being offered are fee-owned properties, and the remaining 22 are leaseholds. All sites are being sold without 7-Eleven branding. Most sites are offered for sale with fuel supply, which would be provided by SEI Fuels, Inc., a 7-Eleven subsidiary.
Dennis Ruben, executive managing director of NRC, said, "These properties are located in major metropolitan areas in many of these states and other prime markets. 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/1402. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1402.
Property Specific Packages (PSP) are expected to be available in mid- to late-February, with a bid deadline of April 1, 2014.
NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries and specializes in the accelerated sale of commercial and residential real estate. NRC's breadth of experience in the convenience-store arena includes portfolio evaluation and analysis; refinancing, recapitalization & sale-leaseback financing options; and merger and acquisition advisory services. Since its inception in 1989, NRC has sold more than 15,000 properties. Clients include globally recognized companies in a variety of industries, including petroleum (BP, Shell and Sunoco), convenience stores (The Pantry and Circle K), financial institutions (GE Capital, StanCorp Mortgage Investors and Fifth Third Bank) and industrial (YRC Worldwide). For more information, visit www.nrc.com.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises, or licenses more than 10,300 7-Eleven® stores in North America. Globally, there are some 52,200 7-Eleven stores in 16 countries. During 2012, 7-Eleven stores worldwide generated total sales of more than $84.8 billion. The company is franchising its stores in the U.S. and is expanding through organic growth, acquisitions, and its Business Conversion Program. Find out more online at www.7-Eleven.com.