Two area 7-Eleven® stores will be closing as part of a 75 store reduction in the company’s portfolio.
Two of the Virginia 7-Eleven stores are located in Chester and will close by July 29.
The stores at 2720 West Hundred Rd. and 100 East Hundred Rd. are included on the closure list are part of 14 stores in Virginia.
Seventy-five gasoline stations and/or convenience stores will close across the country. This includes 31 locations in Florida, the 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.
Last week, in a press release 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.”
Based in Dallas, Texas, 7-Eleven operates, franchises, or licenses more than 10,300 7-Eleven stores in North America. Globally, there are some 52,800 7-Eleven stores in 16 countries. During 2013, 7-Eleven stores worldwide generated total sales of more than $84.5 billion. The company is franchising its stores in the U.S. and is expanding through organic growth, acquisitions, and its Business Conversion Program.
The stores typically occupy up to 1.3 acres while store sizes range from 1,870 square feet to 4,740 square feet. Thirty-seven of the sites will be offered as fee-owned properties, meaning they would be franchised. The remaining 38 would be leased. 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.
NRC Realty & Capital Advisors, LLC will be handling the sales.
NRC specializes in convenience-store evaluation and analysis. According to NRC, 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).