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February 7, 2014

US: 7-Eleven to shed 72 stores from portfolio

7-Eleven Inc will sell off 72 of its US convenience stores and gas stations it has confirmed.

7-Eleven Inc will sell off 72 of its US convenience stores and gas stations it has confirmed.

NRC Realty and Capital Advisors has been appointed to to manage the sale of the stores, 22 of which are in Texas, 17 in South Carolina, 11 in Pennsylvania, nine in Ohio, four in Michigan, three in Indiana, three in West Virginiam two in Florida and one in Utah.

7-Eleven vice president of mergers and acquisitions said the sale of the “terrific properties in this package” was because they “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” he added.

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.

7-Eleven is one of the largest chains in the convenience retailing industry. Globally, there are some 52,200 7-Eleven stores in 16 countries. During 2012, 7-Eleven stores worldwide generated total sales of more than US$84.8bn.

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