Los Angeles 7-Eleven plans to open 100 new stores across Southern California in the next three years.
The company has hired CB Richard Ellis Group to serve as its exclusive brokerage firm in Southern California, focused on assisting 7-Eleven in expanding its market share.
The planned expansion will span seven counties: Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura and Santa Barbara.
The new store investment is approximately $50 million this year and expected to be more than $60 million for 2010.
7-Eleven has approximately 800 stores in the Southern California market, and expects to open nearly 50 this year. Twenty 7-Eleven stores were added to this market in 2008.