{"id":1004710654,"date":"2024-04-17T02:45:24","date_gmt":"2024-04-17T10:45:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004710654"},"modified":"2024-04-18T01:20:00","modified_gmt":"2024-04-18T09:20:00","slug":"7-eleven-pays-1b-for-204-store-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/","title":{"rendered":"7-Eleven Pays $1B for 204-Store Portfolio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004710659\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/7-eleven-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg\" data-orig-size=\"1776,1333\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"7-eleven\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;7-Eleven operates, franchises and licenses more than 13,000 locations. Image courtesy of 7-Eleven&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg?w=1024\" height=\"683\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg?w=1024\" alt=\"7-eleven\" class=\"wp-image-1004710659\" style=\"object-fit:cover;width:400px;height:300px\"\/><figcaption class=\"wp-element-caption\">7-Eleven operates, franchises and licenses more than 13,000 locations. <em>Image courtesy of 7-Eleven<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Retail chain 7-Eleven Inc. has completed the acquisition of 204 stores from Sunoco LP, comprising Stripes convenience stores and Laredo Taco Co. restaurants. Announced in January, the deal was valued at roughly $1 billion at the time, as reported by <em>Reuters<\/em>.<\/p>\n\n\n\n<p>The properties acquired by 7-Eleven are located across West Texas, New Mexico and Oklahoma. The two brands first entered 7-Eleven\u2019s portfolio in 2018 in a $3.3 billion acquisition from Sunoco. Back then, 1,030 locations across 17 states changed hands,  growing the buyer&#8217;s U.S. footprint by 12 percent.<\/p>\n\n\n\n<p>Following the current transaction, 7-Eleven will own and operate all Stripes and Laredo Taco locations. The assets join the more than 13,000 convenience stores the company already operates, franchises and licenses in the U.S. and Canada.<\/p>\n\n\n\n<p>Sunoco representatives stated that proceeds from the sale will be used to reduce existing debt and facilitate growth opportunities. The company plans to grow its gasoline business through acquisitions of liquid fuel terminals throughout Europe from Zenith Energy, according to the same source.<\/p>\n\n\n\n<p>As part of the 2018 purchase, Sunoco entered a 15-year fuel supply agreement with 7-Eleven, under which it would provide roughly 2.2 billion gallons of fuel annually. The current transaction includes amendments to that deal as well, involving the inclusion of future and additional fuel gross profit, <em>D Magazine <\/em>reported.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-retail-market-shake-ups\">Retail market shake-ups <\/h2>\n\n\n\n<p>Following the pandemic, the retail market&#8217;s recovery was not linear. Owners and operators attempted various strategies to get back on track, while the landscape was shaken up by surprising developments. <\/p>\n\n\n\n<p>One of the latest such events was <a href=\"https:\/\/www.commercialsearch.com\/news\/what-99-cents-onlys-demise-means-for-cre\/\">the demise of 99 Cents Only Stores<\/a>, putting 44 owned and 333 leased locations on the market. As different suitors emerge, operators navigate the story\u2019s larger implications for the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company now owns all locations of both a convenience store chain and a restaurant brand.<\/p>\n","protected":false},"author":3120,"featured_media":1004710659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21742,21749,51973],"tags":[34436],"class_list":["post-1004710654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-latest","category-retail","category-southwest","tag-7-eleven"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7-Eleven Pays $1B for 204-Store Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7-Eleven Pays $1B for 204-Store Portfolio\" \/>\n<meta property=\"og:description\" content=\"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-17T10:45:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-18T09:20:00+00:00\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/\",\"name\":\"7-Eleven Pays $1B for 204-Store Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg\",\"datePublished\":\"2024-04-17T10:45:24+00:00\",\"dateModified\":\"2024-04-18T09:20:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg\",\"width\":1776,\"height\":1333,\"caption\":\"7-Eleven operates, franchises and licenses more than 13,000 locations. Image courtesy of 7-Eleven\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"7-Eleven Pays $1B for 204-Store Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\",\"name\":\"Radu Corfus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"caption\":\"Radu Corfus\"},\"description\":\"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"7-Eleven Pays $1B for 204-Store Portfolio - Commercial Property Executive","description":"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"7-Eleven Pays $1B for 204-Store Portfolio","og_description":"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.","og_url":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-04-17T10:45:24+00:00","article_modified_time":"2024-04-18T09:20:00+00:00","author":"Radu Corfus","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/","name":"7-Eleven Pays $1B for 204-Store Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg","datePublished":"2024-04-17T10:45:24+00:00","dateModified":"2024-04-18T09:20:00+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2"},"description":"7-Eleven acquired 204 stores from Sunoco LP, which comprise Stripes convenience stores and Laredo Taco Co. restaurants.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg","width":1776,"height":1333,"caption":"7-Eleven operates, franchises and licenses more than 13,000 locations. Image courtesy of 7-Eleven"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/7-eleven-pays-1b-for-204-store-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"7-Eleven Pays $1B for 204-Store Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2","name":"Radu Corfus","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","caption":"Radu Corfus"},"description":"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.","url":"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/7-eleven-e1713347544911.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004710654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004710654"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004710654\/revisions"}],"predecessor-version":[{"id":1004710875,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004710654\/revisions\/1004710875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004710659"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004710654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004710654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004710654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}