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Wednesday, April 16, 2014

DeSoto gas station on the chopping block

Source: Focus Daily News
By Joshua C. Johnson

DESOTO - The Valero gas station at 1304 W. Belt Line Road is among the 100 convenience stores slated to be unloaded by its parent company San Antonio based-CST Brands. Company officials selected the DeSoto location as one of its low performing locations in which to streamline.

NRC Realty & Capital Advisors, LLC announced this week that it has been retained to coordinate the sale of 100 gasoline stations and/or convenience stores, 16 former gas stations and one land parcel. This includes 61 locations in Texas, 22 in Colorado, 14 in Arizona, seven in California, four in both Arkansas and Louisiana, 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, parent company of Corner Store. “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.”

Of the 61 Texas sites, 30 are in the Dallas-Fort Worth area, 11 are in the Lubbock area, seven are in the Houston area, five are in the El Paso area, and the remaining eight are in surrounding areas.

In Arizona, nine are located in the Phoenix area, four are in Tucson and one is in Prescott Valley. In Colorado, nine are located in and around Denver, five are in Colorado Springs and the surrounding area, four are in Fort Collins with the remainder located in surrounding areas.

Sites sold as convenience stores with gas, whether operating or closed, will be offered for sale with fuel supply, which will be provided by CST, or without fuel supply. Of the 16 former gas stations, 4 will be sold without tanks and deed restricted for the sale of petroleum.

In an announcement in early March, CST noted that in looking to optimize its network, it had identified approximately 100-plus stores that were candidates for sale, the majority of which could potentially be added to the company’s growing wholesale distribution business in the U.S. The locations each average over 3,000 gallons of fuel sold per store, per day, which makes them an attractive location for sale and good dealer candidates for CST’s wholesale business.

”We’re very pleased to be working with CST in this endeavor to optimize its network,” said Dennis Ruben, executive managing director of NRC. “Based upon recent experien

To see a list of convenience stores for sale and gas stations for sale, click here.