Thursday, July 30, 2009

Oh thank heaven for emptiness

I previously wrote (twice) about how certain chain stores are moving into empty locations. While this sometimes enables small stores to get bigger, it can also enable small stores to stay small, but open in more places.

Of course to open a store you have to have money.

7-Eleven has money:

Already seemingly ubiquitous, 7-Eleven, the convenience store chain, is taking advantage of the weak commercial real estate market to carry out a major expansion plan.

The company — which now operates or franchises approximately 5,700 stores across the United States — announced its growth strategy in May, saying it would add more than 200 new outlets this year.

In the process of explaining how 7-Eleven could expand, Mike Friedman of CB Richard Ellis made a telling point:

"While the business is not recession-proof, it’s recession-resistant...."

So everyone who thought that municipal bonds were a safe investment should probably head to the Tokyo stock exchange.
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