7-Eleven Inc. is the world’s largest, franchisor, and licensor of convenience stores with more than 60,000 stores located in 17 countries around the world. The company actually started on an ice dock in 1927 by “Uncle Johnny” Jefferson who had the bright idea to start selling everyday staples from a dock in Dallas, Texas.
By 1947, the names changes from Tote’m Stores to 7-Eleven to reflect the new extended hours – 7 a.m. to 11 p.m., seven days a week. In 1963, a 7-Eleven location near a university in Austin, Texas opens all night to accommodate students and the 24/7 idea is a hit and soon catches on in other locations.
In 1964, 7-Eleven began to franchise stores and in 1965 the “drink revolution” commenced as 7-Eleven starts with the launch of the Slurpee drink and the world’s first coffee to go. In 1960, the company goes international and opens locations in Canada, bumping the number of stores to 3,500.
In the 1970s, 7-Eleven began offering self-serve gas and the first self-serve soda fountain – Americans were introduced to the Big Gulp fountain drink. In the 1990s, the company started shipping fresh food products daily to meet the needs of health-conscious consumers.
According to Calkain, an AA- obligor has VERY STRONG capacity to meet its financial commitments. The 7-Eleven deal with Realty Income was a sale/leaseback, and here’s an explanation of a typical 7-Eleven deal (as per Calkain):
Leases are generally 10-20 years in length and have rent bumps of 10%-15% every 5 years.