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You're paying for footprint. There's 320 Walmarts in California and almost 2000 7-Elevens. There's zero Walmarts in SF and San Mateo county, and at least 50-Elevens. Those 7-Elevens are often in premium locations downtown.


I am not sure I follow the discussion and its tie into California - I am in the South US


I just picked a market.




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