December 13, 2023
7-Eleven, originally founded in the 1920s, has evolved into a global convenience store behemoth with over 71,000 locations across 17 countries. The brand has become a one-stop-shop for consumers, offering everything from quick snacks and beverages to essential household items. This wide product range drives consistent foot traffic to its locations, making it a highly desirable tenant in any commercial real estate portfolio.
In an era where technology is integral to retail, 7-Eleven has been quick to adapt. The brand has embraced mobile payments, streamlining transactions for the customer. They've also launched innovative concepts like "Evolution Stores," which go beyond the traditional convenience store model to include features like craft beer stations, wine cellars, and even on-premise dining options. This willingness to evolve with consumer needs adds another layer of appeal to their tenant profile.
One of the most striking aspects of 7-Eleven's business model is its aggressive growth strategy. The acquisition of Speedway LLC for $21 billion added 3,800 locations to their portfolio overnight. But they're not stopping there. The brand aims to expand its North American store count to 20,000, planning to add 6,000 new locations in the coming years. This aggressive expansion makes them a compelling option for landlords looking for a tenant with a strong growth trajectory.
From a real estate perspective, 7-Eleven is a tenant with ambition. They're not just looking to increase their store count; they're also keen on diversifying their store formats. This includes a targeted state-by-state expansion plan, with specific goals set for 2022 and 2025. Their real estate strategy is as dynamic as their retail one, making them a compelling tenant for diversified portfolios.
In essence, 7-Eleven is a tenant that brings a lot to the table. Their aggressive growth strategy is backed by a willingness to adapt and diversify, both in terms of their retail offerings and their real estate footprint. For landlords and investors, this makes 7-Eleven a robust and evolving tenant, well-positioned for future success and a valuable addition to any commercial real estate portfolio.
3 mo. avg (1,229 properties)
Average Sale Price
$1,450 - $1,800
3,000 - 4,000
Approx. Store Count
7.5% every five years
Reflect only properties with long-term lease.
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