NRC Realty & Capital Advisors, LLC announced today that it has been retained again by 7-Eleven, Inc. to coordinate the sale of 75 gasoline stations and/or convenience stores. This includes 31 locations in Florida, 14 in Virginia, six in Massachusetts and Illinois, three in Texas, two in New York, Delaware, New Jersey and Utah and one each in Arizona, Connecticut, Indiana, Maryland, Michigan, Pennsylvania, and Vermont.
In announcing the sale, Robbie Radant, 7-Eleven vice president of mergers and acquisitions, said, “There are many nice sites in this package that simply do not fit 7-Eleven’s current business model. All of these stores have solid merchandise sales and should provide good opportunities for the right buyers.”
Lot sizes range from approximately 5,300 square feet to 1.3 acres, while store sizes range from 1,870 square feet to 4,740 square feet. 37 of the sites being offered are fee-owned properties, and the remaining 38 are leaseholds. All sites are being sold without 7-Eleven branding. Most sites that sell fuel 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/1408. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1408.
Property Specific Packages (PSP) are expected to be available in late June, with a bid deadline of July 29, 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.