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NEW YORK -- New York City has thousands of convenience stores and bodegas in operation, but if 7-Eleven has its way, many more of them will boast familiar green, red and orange signage in the near future.
7-Eleven Inc. intends to open up to 14 Manhattan locations this year, plus an additional 20 per year until 2017, according to a Crain's New York Business report.
"Between the number of folks living in Manhattan, coupled with the worker population, there's significant demand and opportunity," said Dan Porter, vice president of real estate for 7-Eleven.
The company isn't sticking to a particular region of the city -- neighborhoods with planned stores include midtown, Greenwich Village, Chelsea and the Upper East Side. The Financial District is also a possibility. Store sizes will range from 1,500 square feet to 3,000 square feet.
The range of targeted neighborhoods reflects the company's high expectations for Manhattan. "It's a very (strong) market for us," Sean Duffy, 7-Eleven's senior vice president for development, told the news outlet.
The retailer plans to work with existing bodega owners to change their businesses over to 7-Eleven franchise stores, a process that normally costs between $200,000 and $1 million. Three such conversions are already on tap for this year, according to Porter.
7-Eleven operates more than 7,200 locations in the United States and 44,000 locations worldwide.