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DALLAS-Following through on a year-old study, 7-Eleven Inc. has put its 1.4-million-sf world headquarters on the sales block in a bid to rid itself of an 87%-leased, “non-core asset” and cash in on the real estate investment appetite of the rich and famous.

The study recommended a sale of the 42-story, multi-tenant Cityplace Center East at 2711 N. Haskell Ave., a 10-acre block with four retail pad sites and an underground parking garage. Every option will be reviewed, eliminating any “all or nothing” speculation and clearly opening the door for a partnership purchase, which has become increasingly popular as real estate prices spike to all-time highs thanks to the continued flux of the stock market.

The corporate giant occupies 482,000 sf on floors 29 through 41 plus a portion of the 42nd floor and the basement. And, 7-Eleven intends to stay put for the long term at an address that houses 1,000 of the corporation’s workforce and 325 vendor partners, a company contact tells GlobeSt.com.

Built in 1988 for 7-Eleven’s predecessor, the Brazilian granite trophy has 180,700 sf or 13% of its space empty, according to the company. Most of Southland Corp.’s assets have now been sold, including the acreage across the freeway where a twin tower was supposed to rise along with a half dozen other buildings. In 1999, the name changed and the 7-Eleven chain dominated the focus, as it still does. The chain owns one-third of the 5,300-store branding in the US and Canada, with the balance held by franchisees. Licensing agreements are in place for another 19,400 stores in 17 countries.

As it now stands, 7-Eleven leases most of its US office space, but the landmark listing is clearly aligned with the economic gains from the sale than any intent to continue a disposition course that began in 1987. A bidding war is guaranteed, with the asset carrying a $120.9-million assessment and key location with easy freeway access to the north of the CBD and a 360-degree view of the city, a full-service conference center, cafeteria and 2,100-sf 7-Eleven concourse store.

7-Eleven hired Holliday Fenoglio Fowler LP’s Dallas team of Mark Gibson, HFF executive managing director, along with Jeffrey Stone and Andrew Levy, both senior managing directors, to steer the sale.

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