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Thursday, February 2, 2012

Prima Marketing to sell 26 locations, including 16 c-stores

Source: Retail Business Review
By RBR Staff Writer

Prima Marketing is selling 26 properties it owns, leases or operates in West Virginia, Pennsylvania and Ohio. The firm has enlisted NRC Realty & Capital Advisors to coordinate the sale.

The properties on sale include 16 operating convenience stores (c-stores), five closed stores, one subleased property and four land-only pad sites, according to csnews.com.

The sites are located in Charleston, Fraziers Bottom, Hernshaw, Hurricane, Huntington, Parkersburg, Pennsboro, Princeton, Ripley, Salt Rock, Scott Depot, St. Albans and Washington, West Virginia; Erie, Grove City, Indiana, Jeannette, Natrona Heights and New Station, Pennsylvania; and Albany, Belpre and Euclid, Ohio.

The operating and closed sites is likely to be sold with or without fuel supply or for adaptive reuse, while the convenience stores will be sold without brands, but 7-Eleven franchise opportunities could be available.

Prima marketing chief executive Jeffrey Kramer said this portfolio consists of excess real estate and operating stores that are not a part of the company's long-term strategic plan.

NRC executive managing director Denny Ruben said West Virginia and the surrounding areas are strong c-store markets, even in the current economy.

"This sale provides some unique opportunities for others already operating in the area, as well as those looking to enter these markets," Ruben said.