The developers of a Vancouver 7-Eleven store on St. Johns Boulevard sold the site this month for $1.56 million to an unidentified private investor.
Vancouver-based MAJ Development Corp. and partners originally paid $595,000 for the commercial site, a former branch of First Independent Bank at 4500 N.E. St. Johns Blvd. MAJ redeveloped the existing building into a convenience market, which it then leased to 7-Eleven before selling the property.
MAJ Development Corp. is owned by real estate broker Michael Jenkins, also the owner of Coldwell Banker Commercial Jenkins Associates.
In 2009, MAJ landed a lucrative contract as the West Coast's preferred developer for Dallas-based 7-Eleven Inc. MAJ has so far developed more than 50 convenience stores, some with attached retail projects, for 7-Eleven, including several stores in Clark County, where the chain continues to expand its market share.