7-Eleven Opening Stores, Not Closing Them

Posted by: Tim Halbur

15 July 2009 - 6:00am

The convenience store announced it would open 200 new stores this year. A rep said that attractive locations had opened up for the retailer that were previously too expensive.

"According to Kenneth Barnes, manager of real estate for 7-Eleven’s Northeast division, there are 15 sites in the [New York] metropolitan area that 'the company has had its eyes on for years that have become available for us to pursue in the last year.' And he said the leases it was currently negotiating carried rents more than 30 percent below the level of six months ago."

Full Story: 7-Eleven Sees an Opportunity to Open Doors

Source: The New York Times, July 14, 2009