7-Eleven signs deal to open second downtown Ann Arbor convenience store
The international convenience store chain just signed a deal for a 3,000-square-foot store at 704 S. Main St., officials confirmed today.
Now 7-Eleven has chosen the spot for the next step in its Washtenaw County expansion, which also includes a store on South State Street that opened in late December.
The new store will serve both the campus and the nearby residential neighborhood, store officials said.
“The site is not far from the (University of Michigan) campus and close to the football stadium,” said Margaret Chabris, corporate spokeswoman, in an e-mail.
The location fits the 7-Eleven business model because it offers the potential for high-traffic business in an underserved retail area, said Jim Chaconas of Colliers International, who represented both the retailer and the building owner in the transaction.
Chaconas, whose family worked in beer wholesaling for a number of years, said he recalled high-volume beer and pop sales in the South Main Street area at now-closed stores. Today, the lack of nearby retailers and the adjacent parking for commuters should keep the new 7-Eleven busy, he said.
“There’s great visibility going south and no competition there,” Chaconas said.
The store should open in April, Chabris said.
Heather Lockwood | AnnArbor.com
The space had been listed for $26 per square foot per year, according to marketing materials.
Meanwhile, the South State Street 7-Eleven store will celebrate its grand opening from 4-7 p.m. Thursday. That store is a two-level floorplan that includes an upper-level student lounge.
Chaconas said he's continuing to look for additional store locations for the chain in the area.