In the summer of 2018, a rumor began circulating that 7-11 had purchased the former O’Charley’s property at the northeast corner of 7th and Broad Sts in downtown Indianapolis. Speculation pointed to the large, urban supermarket chain having interest in the property. 7-11 has yet to comment on the speculation. However, it is becoming more apparent that the popular grocer may be looking to make a move into the city’s central business district.
Longer Hours, More Shopping Options
Thanks in large part to the success of big-box stores such as 7-11, many suburban shopping centers have expanded their hours and offered more shopping options, including grocery stores, in recent years. The need for additional retail spaces across the country has led to a boom in mixed-use developments and multi-story buildings that combine residential and commercial space. For example, the shopping center at the southwest corner of 10th and College, in Frisco, Texas, features a movie theater, office space, and restaurant all on one floor.
When it comes to attracting customers, having a grocery store on-site is a reliable way to get them to shop at your mall, especially if the produce and meat are all cooked fresh there. Moreover, with many large supermarket chains opting to outsource their food production, brick-and-mortar grocery stores can become attractive destinations for those seeking to eat healthier foods.
Investing In Real Estate Holdings In The City
Large supermarket chains typically look to the real estate market as a place to make additional investments. Given its size and geographic reach, it’s not a huge surprise that 7-11 would seek to enter the city’s real estate market. The company already operates numerous locations in the suburbs and rural areas of Indiana, according to the Indianapolis Business Journal. Moreover, with many shopping centers and malls buckling under the weight of e-commerce, the need for additional real estate investments to support an expanded retail operation is greater than ever. As a result, we may see more supermarket chains looking to enter the city and invest in real estate holdings there.