Morgan Property Group, LLC is pleased to announce the acquisition of property for the development of a new freestanding 7-Eleven convenience/gas store in Richmond. The site is located at the northeast corner of Williamsburg Road (Route 60) & Oakleys Lane and will be a relocation of a store in the immediate area.
The 1.068 acre property was acquired by MPG, through its affiliate SDC IV Williamsburg, LLC, from The Restaurant Company. Mid-Atlantic Real Estate Partners, Inc. represented the Buyer and Jim McVey of Commonwealth Commercial Partners, Inc. represented the Seller. MPG is developing the 2,940sq.ft. convenience store that will feature six pumping stations. Construction has commenced and the store is scheduled to open in the Summer of 2014.
“We’ve had the pleasure of building multiple commercial developments in the Richmond area over the years,” said Trey Morgan, President of MPG. “We are excited to see a national retailer like 7-Eleven making the right investment in the local community to replace an older location with a quality product and expanded services.”
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates franchises or licenses more than 10,200 7-Eleven® stores in North America. Globally, there are some 51,000 7-Eleven stores in 16 countries. During 2012, 7-Eleven stores worldwide generated total sales close to $84.8 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine’s 2011 list of Top Franchises for the Money and #3 spot on Entrepreneur magazine’s Franchise 500 list for 2012. Find out more online at www.7-Eleven.com.
For over thirty-seven years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping center and single-tenant retail projects for repeat clients such as Walgreens, Publix, 7-Eleven, and McDonalds. The company and its affiliates are developing multiple retail, mixed use, and medical development projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.