7-Eleven is looking to expand in the outer boroughs and Long Island and has tapped CB Richard Ellis’ retail services group in Long Island as its exclusive leasing agent. The Dallas-based convenience retailer plans to open 180 stores over the next three years in Brooklyn, Queens and Staten Island as well as Long Island. The company is targeting high-profile locations with spaces of 1,700 to 3,500 square feet for its 24-7 operation. “The outer boroughs, southern New York and Long Island have been important markets for 7-Eleven for years,” said Ken Barnes, 7-Eleven’s real estate manager for the Northeast. “We have some 260 stores in this area and recognize the growth opportunity in this dynamic, high-population market. Through new store development and remodeling of existing locations, we are creating franchise and other business opportunities.” TRD

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As Manhattan commercial rents plummet, one retailer still reaping the benefits is convenience store giant 7-Eleven, which last summer announced its planned expansion in the city. 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. [more]