Manhattan, NY Katz & Associates is helping convenience retailer 7-Eleven grow its footprint. Katz’s Scott Sher represented 7-Eleven franchisees for three new area locations for a combined total of 8,771 s/f. The new stores are slated to open in Q1 2021.
The new 7-Eleven locations include:
“7-Eleven is a great tenant in any real estate market, and they’ve been exceptional to work with during these unique and challenging times,” said Sher, managing director, Katz & Associates. “They are leveraging the opportunity to find new locations that in some cases may not have been available to them prior to the pandemic. 7-Eleven realizes that New York City will be back to business as usual in the near future so they are wisely making moves to ensure their long-term success in what is, in ‘normal’ times, the best retail market in the country.”
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,