Wednesday, April 16, 2014
Las Cruces Valero Corner Store put up for sale
Source: Las Cruces Sun-News
San Antonio, Texas-based CST Brands - parent company to Corner Store - plans to find a buyer for the store as part of the sale of 100 gasoline stations and/or convenience stores, 16 former gas stations and one land parcel.
There are three stores total in New Mexico including one in Albuquerque and one in Roswell. In addition there are five stores in El Paso that are part of the sale.
NRC Realty & Capital Advisors, LLC announced that it has been retained by CST Brands to coordinate the sale which includes 61 locations in Texas, 22 in Colorado, 14 in Arizona, seven in California, four in both Arkansas and Louisiana, the three in New Mexico, one in Utah and one in Wyoming.
"We are streamlining our operations in order to focus on our core business strategy to build larger format stores that can offer a wider array of enhanced product offerings." said Steve Motz, Senior Vice President and Chief Development Officer at CST Brands, said via a release. "The sale of these smaller stores are a tremendous opportunity for the right buyer as they will be a critical part of our growing U.S. wholesale business."
NRC reports that the properties will be sold using its "buy one, some or all" sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/1406. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1406.
Property Specific Packages (due diligence packages) are expected to be available in mid-May, with a bid deadline of June 17.