Already seemingly ubiquitous, 7-Eleven, the convenience store chain, is taking advantage of the weak commercial real estate market to carry out a major expansion plan.
The company — which now operates or franchises approximately 5,700 stores across the United States — announced its growth strategy in May, saying it would add more than 200 new outlets this year.
Company officials said the two regions where growth would be strongest were California, which had almost 1,300 stores at the end of 2008, and the New York metropolitan area, which had 431 stores at the end of 2008. At least 44 stores will open this year in metropolitan New York, more than twice the number that opened last year.
In the longer term, Dan Porter, vice president for real estate and new store development at 7-Eleven, said that the company saw the possibility of adding 350 stores in the metropolitan area in five to seven years.
The growth plan of 7-Eleven, officials said, reflects relatively strong demand for its products. In addition, they said, the retailer is getting access to desirable retail space that it was not previously offered or that was too expensive. Read more.
Photo: Andrea Mohin / The New York Times.