7-Eleven Celebrates Opening at Paramount Assets’ William Flats in Newark, N.J.
Ribbon Cutting Event Marks Another Milestone for Adaptive Reuse Project
June 19, 2019 // Franchising.com // NEWARK, N.J. - A formal ribbon-cutting ceremony marked the official opening of convenience store 7-Eleven at Paramount Assets' William Flats in Newark, a 37-unit luxury multifamily rental property with street-level commercial space. Located on the corner of William and Broad streets, the building lies between Teachers Village and the Prudential Center in the heart of the City’s historic Four Corners neighborhood. The redevelopment is an adaptive reuse of the former United Women’s Garment Workers’ Union headquarters property.
Members of the Paramount Assets and 7-Eleven teams joined local dignitaries and representatives of the Newark Police Department at the ceremony.
William Flats’ 12,000-square-foot ground-floor retail component offers neighborhood conveniences both for residents and the community alike. Santander Bank and Go! Go! Curry, a fast-casual franchise concept specializing in authentic Japanese comfort food, also have committed to the space. Situated at 1 William Street, the new 2,700-square-foot 7-Eleven store is one of three locations for the chain within Paramount Assets’ New Jersey portfolio, underscoring the firm’s expertise in completing lease transactions with national franchises.
Paramount Assets is a family-owned, regional, full-service real estate investment firm specializing in urban property ownership, management and development. The company’s rapidly expanding portfolio currently includes 3.1 million square feet of commercial, multifamily and mixed-use holdings across 25 New Jersey municipalities – including a notably growing foothold in the City of Newark. The company maintains a holistic, vertically integrated approach to real estate development, with in-house acquisition, leasing, legal, accounting, property management and construction teams.
7-Eleven is the world's largest convenience store and consistently ranked as a top-10 franchisor. Our brand is known and loved around the world, and our iconic products are a big part of American culture. Although we've grown exponentially over the years, our focus stays fixed on making life easier for customers. In a rapidly changing digital world, convenience takes on a brand-new meaning. What used to focus on bread, milk and gas now encompasses banking and delivery services, rewards programs and convenient digital apps. We're continuously inventing and rethinking ways to stay convenient in a busy, changing world.
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45 Academy Street, 5th Floor, Newark, NJ 07102
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