REAL ESTATE

7-Eleven leases 17 stores in Cleveland area

BY Staff Writer

Dallas — 7-Eleven will rebrand convenience stores in Ohio’s Cuyahoga and Lorain counties as part of a 19-store lease from Allentown, Pa.-based Lehigh Gas Partners LP.

The effective date of the leases will vary, but all leases are expected to be in place by March 31, 2013.

Lehigh Gas Partners will retain ownership of the 19 sites and will continue to provide wholesale distribution of motor fuels to each site. The fuel will continue to be sold under the "BP" brand. 7-Eleven will rebrand the stores as "7-Eleven" stores and will manage the convenience-store operations.

The retail fuel business at the 15 stores in Cuyahoga County and four in Lorain County will continue to be owned and operated by Lehigh Gas — Ohio, LLC.

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REAL ESTATE

Smoothie King to open 100 stores in 2013

BY Katherine Boccaccio

New Orleans — Smoothie King Franchises said Monday it plans to open 70 franchise and 30 corporate locations across the U.S. in 2013.

Since December 2012, the smoothie franchise has acquired six additional locations in Florida and Texas, bringing the total number of corporate stores to seven. The company also has opened six new franchise locations since the start of the year.

Smoothie King said it is on track to sign 100 new U.S. franchise agreements this year. Additionally, the company has plans to open 50 new international stores, including 40 in South Korea and 10 in Singapore.

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Glimcher names exec to focus on acquisition strategy

BY Katherine Boccaccio

Columbus, Ohio — Glimcher Realty Trust announced Ward Kampf has been appointed from within to the role of SVP, strategic investments, charged with finding high-quality acquisition opportunities consistent with the company’s investment criteria. In the last 18 months, Glimcher has closed on five acquisitions.

Previously SVP, retail strategies, Kampf oversaw retail and leasing strategies for key developments and acquisitions. He joined the company in 2009.

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