The commercial real estate carnage isn’t bad news for everyone. Slurpee-slinger 7-11 is ready to take over New York City.
The Real Deal: At a time when many chains are contracting, Dallas-based 7-Eleven is taking advantage of low entry costs and aggressively taking on Manhattan, where the company, which is currently operating six stores, plans to tack on an additional 100 locations over the next five years.
The latest in its business conversion program will be at 535 Eighth Avenue at 36th Street, Margaret Chabris, a company spokesperson, told The Real Deal. The site is the former location of Arnold Hatters, one of the city’s oldest hat stores, which went out of business last spring.
The Slurpee creators are “open to just about any location in Manhattan,” Chabris said, but noted that Midtown was particularly attractive because of the high level of traffic.
Liquor stores should be especially worried if 7-11 pushes hard on its house brand of wine.
(Picture via Flickr user CstrzRock)