KLNB Retail is scanning the local marketplace for high-visibility and high-traffic, freestanding, endcap [image-nocss] or in-line locations that can support a footprint ranging between 2,000 and 3,000 square feet of space. Potential sites positioned within urban, suburban and highway-oriented projects will be considered candidates for the convenience retailer.
"The convenience store category is experiencing dramatic growth as time-deprived consumers increasingly choose a fast-in, fast-out alternative in their shopping habits," said Keith Barnett, principal of KLNB Retail. "From a real estate perspective, 7-Eleven has carved out a unique niche for their brand in that their expansion strategy is not solely focused on incorporating fuel pumps with their locations. This opens the door for expansion in many markets, such as urban walkup locations, which are otherwise neglected by most expanding convenience-oriented chains."
Dan Porter, 7-Eleven vice president of real estate and new store development, said, "Our investment in the greater Baltimore and D.C., area includes new store development, acquisitions and conversions of other retail outlets to 7-Eleven operations. In addition, we are remodeling existing stores and creating more franchise and other business opportunities.
He added, "Our focus is on identifying trade areas to take advantage of opportunities throughout the region. Working collaboratively with KLNB and their network of broker contacts will be critical to our success as we are in a period of rapid store growth."'
7-Eleven is franchising its U.S. stores and is expanding through organic growth, acquisitions and its Business Conversion Program (BCP).
Towson, Md.-based KLNB LLC is the holding company that includes both NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties, as well as KLNB Retail, which specializes in the sale and leasing of retail projects as well as tenant representation.
In other company news, 7-Eleven has announced a new associate sponsorship of Danica Patrick and her No. 7 GoDaddy.com team. This is in addition to its long-time primary sponsorship of popular Andretti Autosport driver Tony Kanaan and his No. 11 Team 7-Eleven IZOD IndyCar Series entry.
The two sponsorships are part of a multi-year agreement with Andretti Autosport. As part of Patrick's associate sponsorship, the 7-Eleven logo will appear on Patrick's driver suit and the No. 7 GoDaddy.com car.
7-Eleven and Andretti Autosport have enjoyed a relationship that dates back to 2003 and includes an IRL series championship with Team 7-Eleven driver Tony Kanaan in 2004. Throughout its sponsorship of the team, 7-Eleven has supported many of the other Andretti Autosport entries as an associate sponsor. 7-Eleven also tasted victory when the Andretti team claimed IZOD IndySeries crowns in 2005 and 2007 and won the Indianapolis 500 races those same years.
The 2010 racing season is 7-Eleven's eighth season as Kanaan's primary sponsor.
"7-Eleven will also have a presence on the No. 7 entry as well as with Tony and our winning No. 11," said Rita Bargerhuff, 7-Eleven's vice president and chief marketing officer. "Tony and Danica will certainly provide a one-two punch for 7-Eleven, both visibly on the track and in promotions throughout the season."
Patrick is one of the most-popular female athletes in the world, a distinction fueled by her accomplishments in the IZOD IndyCar Series. In 2005, Patrick qualified and finished fourth in the Indianapolis 500 while becoming the first and only woman ever to lead the historic race. Patrick joined Andretti Autosport prior to the 2007 season and then became the first woman ever to win a series event when she took the checkered at the Japan Indy 300 on April 20, 2008.
"This is a great opportunity to build upon the strong platform we have established with Andretti Autosport, Tony Kanaan and the Team 7-Eleven program," said Bargerhuff. "We have had the pleasure of working with Danica since she joined the Andretti team three years ago, and we look forward to this expanded relationship."
Dallas-based 7-Eleven operates, franchises or licenses some 7,900 7-Eleven stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 36,800 stores in 15 countries. During 2008, 7-Eleven stores worldwide generated total sales of more than $53.7 billion.
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