Update: Business Development Officer Kevin Duffy said the deal would still require Planning Board approval and that residents still have "ample time to comment on the project."
Original Post: Note: The following was submitted by Combined Properties.
Combined Properties, Inc. is pleased to announce that it has entered into a lease agreement with 7-Eleven Inc., North America’s oldest and largest convenience store operator.
The convenience store will occupy 3,207 square feet of the 8,546 square foot building on the corner of Commercial and Medford Streets, next to Dockside Restaurant at Riverview, in Malden.
7-Eleven, a first class retail company with nearly 10,000 stores in North America, has built its success by offering first class services in a clean, professional environment with stringent quality controls in place. The company, which has more outlets than any other retail or service provider, has been looking to expand in Malden and after careful analysis has selected this Combined Properties location to open its new store.
This new 7-Eleven will greatly enhance the convenience options in the area, which are currently limited.
“Local workers in the immediate vicinity such as Comcast, Mystic Valley Elder Services, The Malden Evening News, Hopwood Globe, the DPW, and Paradigm Precision will greatly benefit from this convenience,” said Greg Regazzini, vice president and director of leasing for Combined Properties.
“Likewise, local residents will be able to stop by in the morning before work or have a great option during evening hours and on weekends that is within a safe and walkable distance from their homes.”
Local businesses have also expressed support of 7-Eleven moving into the property. Owners of the neighboring Dockside Restaurant support 7-Eleven in the new space, which is directly adjacent to them, as they believe it will boost Dockside’s business. “Increased activity in the neighborhood will help existing businesses succeed in the area,” said Regazzini.
Combined Properties has invested significant marketing efforts and hundreds of thousands of dollars in façade improvements to the property, which has been vacant since 2008 when a Brookline bank branch moved out of the space.
Combined Properties and 7-Eleven are in the process of requesting a special permit to operate a convenience store in an Industrial zone and also have requested an extended hours license.
Greg Regazzini, vice president and director of leasing for Combined Properties, represented the landlord in this transaction.