7-Eleven has announced in a press release the signing of a real estate partnership with NAI Corporate Real Estate Services (NAI CRES) to build its presence in Las Vegas.
Under the deal, the retailer will add to the more than 160 7-Eleven stores it already operates in Clark County, with NAI CRES serving as its real estate partner and exclusive broker for new store growth, site selection, acquisitions, dispositions and other real estate needs.
7-Eleven said its primary objective is to improve overall store presence in the Clark County area through careful and methodical growth together with strategic relocations to capitalise on the strongest trade areas.
In addition to new developments and acquisitions, the company’s plans include the franchise conversions of other retail outlets to 7-Eleven stores.
The retailer also plans to remodel some existing operations, creating more franchise and other business opportunities.
NAI CRES, based in Salt Lake City, has engaged Jeff Mitchell of Virtus Commercial, an affiliate of Mountain West Retail, as the local representative for 7- Eleven’s real estate needs in Las Vegas.
“7-Eleven is in a unique position among retailers in the current market conditions because they are actively expanding” said Mr Mitchell.
“The 7-Eleven growth strategy is exceptional because it’s adaptable; the company can pursue opportunities in a variety of formats – pad sites, shopping center end caps, urban walk-ups, non-traditional sites such as casinos, sports venues and airports. Bottom line is that if there is an opportunity 7-Eleven will look at it, if it is a great opportunity, 7- Eleven opens a store.”
NAI CRES also is providing real estate services for the company in Salt Lake City, Utah, and Calgary, Alberta, Canada.
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