7-Eleven Selling 25 C-stores in 10 States
DALLAS — 7-Eleven Inc. has hung a for-sale sign on 25 convenience stores in 10 states.
Six of the sites are located in Virginia; three each in Colorado, Illinois, Texas and West Virginia; two each in Florida and Missouri; and 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’s 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, with store sizes ranging from 1,375 square feet to 4,390 square feet. Twenty of the sites are being offered as fee-owned properties, with the other five classified as leaseholds. All the sites are being sold without 7-Eleven branding.
7-Eleven retained NRC Realty & Capital Advisors LLC to conduct its well-known “buy one, some or all” sealed bid process. Property-specific packages are expected to be available in early August, with a bid deadline of Sept. 10.
“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. “This sale provides another great opportunity for others already operating in these markets, as well those looking to enter long term.”
Dallas-based 7-Eleven operates, franchises or licenses nearly 10,500 convenience stores in North America.