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7-Eleven Expanding Into N.J.

Retailer said to be seeking "numerous" Garden State sites
PARAMUS, N.J. -- Despite what is happening in the economy, many national, regional and local retailers are seeking New Jersey locations, according to a report by GlobeSt.com. "7-Eleven is one tenant forging ahead with an aggressive expansion plan for the New Jersey market," Chuck Lanyard, president of The Goldstein Group, a retail brokerage firm in Paramus, N.J., told real-estate news and information website.

"They are one of the most active retailers in New Jersey, seeking numerous sites throughout the Garden State," he added.

"The Goldstein Group has been instrumental [image-nocss] in the success of our development plan," Armand Keurian, senior real-estate manager for 7-Eleven Inc., told GlobeSt. "They have been extremely proactive in finding us new locations, and Lew Finkelstein, who heads the leasing team, has proven to be the consummate real-estate professional and continues to help us meet our New Jersey store opening goals."

Recent New Jersey 7-Eleven store leases, ranging in size from 2,400 to 3,200 square feet, include locations in Englewood, Lodi (2), Montclair, Perth Amboy, Verona, West New York, Lodi, Saddle River Crossings and Mahwah, the report said.

As previously reported in CSP Daily News, Dallas-based 7-Eleven is moving to franchise its U.S. stores and is expanding through organic growth, acquisitions and its Business Conversion Program. The company just launched a website, www.franchise.7-Eleven.com, for franchisees. (Click here for coverage.)

Franchisees operate approximately 4,371 of 7-Eleven, Inc.'s 5,639 stores in the United States.

7 Eleven operates, franchises or licenses approximately 7,800 7-Eleven stores in North America. Globally, it operates, franchises or licenses more than 36,000 stores in 15 countries. During 2008, 7-Eleven stores worldwide generated total sales of more than $53.7 billion.

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