Grand Street 7-Eleven Closes Tomorrow
The 7-Eleven outside the Seward Park Co-op on Grand Street is at the end of its life. Five years later, the franchisees have terminated their lease, and will close down for good tomorrow (August 31).
Co-op management, which owns the one-story commercial strip, confirmed the closure to us earlier this month. Apparently, 7-Eleven corporate guaranteed the first five years rent on the decade lease, but they wanted out. So, Seward Park negotiated an early termination fee of $174,000.
No immediate word on why the proprietors decided to shutter. However, Target and the forthcoming opening of Trader Joe’s couldn’t have helped. Meanwhile, we hear word that there is already some interest in the vacant storefront.