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Thursday, October 30, 2014

GPM Investments Selling 16 Sites in Five States

Source: Convenience Store Decisions
By CSD Staff

The properties will be sold using NRC’s well-known “buy one, some or all” sealed bid sale process.

GPM Investments LLC of Richmond, Va., has retained NRC Realty & Capital Advisors LLC to coordinate the sale of 12 convenience stores with gasoline, one convenience store with Subway franchise, two former convenience stores and one vacant land parcel.

This includes eight locations in Virginia, three in Delaware, two each in Connecticut and Maryland and one in New Jersey.

The lots, which are no longer a fit for GPM’s business model for company-operated stores, range in size from approximately 8,200 square feet to 2.4 acres, while store sizes range from 500 square feet to 5,600 square feet. The 13 operating sites are leasehold properties and are being sold with fuel supply, but without convenience store branding. The two former convenience stores and vacant land parcel are all fee sites. Seller financing is available for creditworthy and qualified bidders.

“NRC has had a longstanding relationship with GPM, and is excited about the opportunity to assist them in the divestiture of certain non-strategic assets,” said Dennis Ruben, executive managing director of NRC.

The properties will be sold using NRC’s well-known “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/1419.