Monday, August 8, 2011

Stewart

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million. The acquisition from , a subsidiarg of Philadelphia-based , increases the Stewart’s total number of shop s to 328. “It was an opportunity to operate a storee at an entrance to the said Stewart’s marketing manager Tom Mailey. Stewart’z began operating the store last week afterthe Malta-basexd convenience store chain closed on the The sale comes as Sunoco movesw forward with its plan to sell 165 propertiezs around the country, including 16 in New The petroleum manufacturing and marketing companyg hired to oversee sales as Sunoco looked to improvee its bottom line.
“These locations are being sold as part of a continuing reviewof Sunoco-brande d retail outlets,” Sunoco senior vice president of marketinv Robert Owens said earlier this year. As part of the agreement, Stewart’a will sell Sunoco gas at its new 521Broadwag property. It will be the third downtown Saratoga Spring store owned and operatedby Stewart’s. The family and employee-ownecd business already has two stores withi n two blocks of theBroadway corridor. Those stores will continues operating. Stewart’s already has begub moving in its own milk and ice creak products in thenew shop.
The companh will not be able to sell alcohol at its new storwe for some time while it waits for the state Liquoer Authority to clear a largse backlogin applications, Mailey The building is abou t 2,600 square feet in size and is 19 yearas old. It is locatex across the street fromthe , a convention facility whicyh is expected to undergo a $16 million expansion and renovation. The gas station and convenience store is located ona .56-acr e lot and generated nearlh $1.1 million in sales, according to NRC Realty marketing Mailey said he would expect the store will see increased busineses under Stewart’s management. “But I don’gt have a number to throw at he said.
Under the term of the sale, Atlantic Refinint & Marketing Corp. will have the first righty of refusal to repurchase the properthif Stewart’s decides to sell it in the next 10

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