7-Eleven in major expansion in New York City

New York City Convenience-store operator 7-Eleven is expanding its presence in the New York metro area with a major focus on New York City, and Manhattan specifically. The company is looking to open 100 stores in the next five years in Manhattan either by executing new leases or through its business conversion program (BCP). It has retailed Robert K. Futterman & Associates as its exclusive retail leasing representative in Manhattan.

Ideal sites for 7-Eleven are from 1,700 sq. ft. to 3,500 sq. ft. in high foot-traffic locations that allow for 24-hour operation. Under a BCP franchise arrangement, owners are invited to convert their existing business to a 7-Eleven store and become a 7-Eleven franchisee incorporating the company’s business model. Under 7-Eleven’s traditional franchise model, the company develops the store site and then franchises the business to a qualified candidate.

7-Eleven’s newest locations in Manhattan include stores at 103 West 14th St., 140 Church St. and 676 Amsterdam Ave. The company is currently negotiating several other leases and has several BCP franchises in progress. These sites were designed as part of retailer’s new store format that was created specifically for Manhattan and includes enhanced lighting, wall finishes and flooring.

“We are identifying the leading real estate firms in our growth markets, and RKF is well suited to assist us in increasing our presence in Manhattan,” said Dan Porter, 7-Eleven’s vice president of real estate. “Their local market intelligence, experience and contacts will be critical to our rapid expansion in this New York borough.”