CHICAGO-ExxonMobil has exited 17-year leases at seven Illinois Tollway Oases. The agency has now signed with 7-Eleven, which bought the business rights to the properties.
The convenience store chain, based in Dallas, will take responsibility for the Oases sites, including 13 Mobil fuel stations, convenience stores and car washes. In January 2010, it was announced by the tollway that ExxonMobil wanted to leave its leases.
The push is part of the 7-Eleven’s aggressive growth strategy, said Sean Duffy, VP of mergers and acquisitions for the company, in a statement. “These sites add to the approximately 750 locations that 7-Eleven Inc. has acquired since the beginning of 2008.” Company officials did not return a call for comment.
By the end of March, all the stores will be rebranded. However, fuel stations will retain the Mobil gasoline brand.
The tollway is a user-fee system that receives no state or federal funds for maintenance and operations. The agency maintains and operates 286 miles of roads in Northern Illinois, including the Reagan Memorial Tollway (Interstate 88), the Veterans Memorial Tollway (Interstate 355), the Jane Addams Memorial Tollway (Interstate 90) and the Tri-State Tollway (Interstates 94/294/80).
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