The company plans to build one of its new format convenience store and gas stations on the site, according to Jeffrey Simonds and Mark Sigler of Voit Commercial Brokerage, who represented 7-Eleven in the deal with Cerritos-based Union Development Co.
Groundbreaking on the 3,000-sf convenience store and four-pump gas station is scheduled for November. The store is expected to be completed in March.
The Voit brokers have represented 7-Eleven for the past two years and are currently working on additional land leases for 10 of the convenience store and gas station combinations in Los Angeles and Orange counties.
7 Eleven Inc. plans on opening between 125 and 150 stores during 2002, according to its 2001 annual report. According to its latest quarterly report, it has closed 125 underperforming locations in 2002.
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