Stefanie Wood, brand manager at Medallion Convenience Stores, told the newspaper that she did not know the proposed size or estimated cost to develop the new stores, and company owner/president Kenneth Wood was unavailable for comment by press time, said the report.
But real-estate sources cited by the Business Journal said new fuel station/convenience stores typically run about $2 million to $2.5 million to build, including the cost of buying the land. Most such stores employ three to five workers.
Medallion Convenience Stores already owns the sites it wants to develop, but Wood declined to identify the locations, the paper said. She added that a construction timeline and contractors have yet to be determined.
The company also signed a lease for 10,894 square feet of office space in Maitland, Fla., where it will move its headquarters some time next year, Wood said.
Medallion Convenience Stores is a major distributor in the Central Florida area under the flags of major industry suppliers including Chevron, Shell, Texaco and CITGO. In 20008, it purchased most of BP's retail operations in the Orlando, Fla., area.
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