December 02, 2009 // Franchising.com // BALTIMORE, MD – KLNB Retail has been tapped by 7-Eleven, Inc. as the exclusive brokerage firm to oversee an aggressive expansion program that targets the opening of approximately 50 stores annually in the greater Baltimore, Washington, D.C., and Northern Virginia markets.
Site selection activities will be led by seven KLNB Retail Specialists in a geographic region that encompasses all of Maryland and Washington, D.C., as well as nine counties throughout northern Virginia.
7-Eleven® is recognized as the world's largest convenience retailing chain, as the Dallas-based company operates, franchises and licenses nearly 8,000 stores throughout North America. Internationally, 7-Eleven licensees and affiliates operate more than 29,000 convenience stores in countries, including Japan, Thailand, South Korea, China, Scandinavia and Australia.
KLNB Retail is scanning the local marketplace for high-visibility and high-traffic, free-standing, end-cap 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 walk-up locations, which are otherwise neglected by most expanding convenience-oriented chains," he added.
"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," said Dan Porter, 7-Eleven vice president of real estate and new store development. "In addition, we are remodeling existing stores and creating more franchise and other business opportunities.
"Our focus is on identifying trade areas to take advantage of opportunities throughout the region," Porter added. "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."
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. The company is headquartered in Towson, Md., and features offices in Columbia, Md.; Washington, D.C, as well as Tysons Corner and Loudoun County, Va.
7 Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 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. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #3 in Forbes magazine's Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies and #29 among Top 100 Chains in Food Service. In addition, Hispanic Magazine's named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven is franchising its stores in the U.S., and is expanding through organic growth, acquisitions, and its Business Conversion Program.