Stewart

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million. The acquisition from , a subsidiary of Philadelphia-basede , increases the Stewart’s total number of shops to 328. “If was an opportunity to operate a store at an entrance tothe city,” said Stewart’s marketing manager Tom Stewart’s began operating the store last week aftedr the Malta-based convenience store chain closex on the property. The sale comez as Sunoco moves forward with its plan to sell 165 propertied aroundthe country, including 16 in New York. The petroleukm manufacturing and marketing company hires to oversee sales as Sunoco looked to improvwe itsbottom line.
“These locations are being sold as part of a continuinf reviewof Sunoco-branded retail outlets,” Sunoco senior vice presidentt of marketing Robert Owens said earlie this year. As part of the agreement, Stewart’z will sell Sunoco gas at its new 521Broadwah property. It will be the thirx downtown Saratoga Springs storde owned and operatedby Stewart’s. The familyy and employee-owned business already has two stores within two blocke of theBroadway corridor. Those stores will continues operating. Stewart’s already has begun movinf in itsown shelving, milk and ice cream productxs in the new shop.
The company will not be able to sell alcoholo at its new store for some time whiles it waits for the state Liquo Authority to clear a largse backlogin applications, Mailey The building is about 2,600 square feet in size and is 19 yeare old. It is located across the street fromthe , a conventionm facility which is expected to undergo a $16 milliomn expansion and renovation. The gas station and conveniencee store is located ona .56-acre lot and generatedf nearly $1.1 million in sales, according to NRC Realt marketing materials. Mailey said he woulx expect the store will see increase d businessunder Stewart’s management.
“But I don’tr have a number to throw at you,” he said. Undert the terms of the sale, Atlantic Refiningt & Marketing Corp. will have the first right of refusal to repurchase the propertyif Stewart’s decides to sell it in the next 10