7-Eleven parent looks to lower rents as it reviews all its sites

Dallas Morning News reports:

Some of 7-Eleven Inc.’s landlords are taking a big gulp.

The iconic convenience story chain has hired international real estate service firm CB Richard Ellis to make a “comprehensive review” of all of its store locations around the company.

CB Richard Ellis said that the job will “include analyzing fair-market values for 7-Eleven’s retail sites and negotiating lease terms, when appropriate, in line with current commercial rental rates.’

That means lower rents. It’s something other big retailers have pressed upon landlords -- with varying success -- because of the economic downturn.

Interesting.