7-Eleven's Sale of 70-Plus Stores Opens Door for Small Operators
IRVING, Texas — 7-Eleven Inc. is putting a for-sale sign on more than 70 properties.
The Irving-based convenience store retailer tapped NRC Realty & Capital Advisors LLC to coordinate the sale of approximately 73 gas stations and/or convenience stores.
Of the properties, 33 are located in New Jersey, Massachusetts and New York; seven are in Texas; several are in the Mid-Atlantic and Midwest; and a few are on the West Coast.
The sites average three-quarters of an acre, with some of the larger sites suitable for redevelopment, while other sites are less than one-half acre. Store sizes range from under canopy kiosks to 6,900 square feet.
Thirty-five of the sites being offered are fee-owned properties and the remaining are leaseholds. All sites are being sold without convenience store branding.
The properties will be sold using NRC's "buy one, some or all" sealed-bid sale process.
"Smaller and regional operators have been looking for ways to increase their store holdings over the past several years. The NRC sale process, as always, will create opportunities for retailers of all sizes, including individual operators, and we expect a robust response," said Ian Walker, senior vice president of NRC.
Interested parties can view a complete site list and register online for sale updates by clicking here, or by calling the NRC Customer Service Center at (800) 747-3342, extension 2212. Property Specific Packages with detailed diligence information and bidding documents will be available soon.
The bid deadline is Nov. 1.
NRC Realty & Capital Advisors provides a full array of real estate and financial advisory services to the convenience store and petroleum industries, and the sale of commercial real estate. Since its inception in 1989, NRC has sold more than 15,000 properties. Clients include globally recognized companies, including 7 Eleven, Circle K Stores, BP North America and Global Partners LP, as well as closely held family-owned companies throughout the country.
7-Eleven operates, franchises and or licenses more than 13,000 stores in the United States and Canada. It also operates and franchises Speedway, Stripes, Laredo Taco Co., and Raise the Roost Chicken and Biscuits locations.