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Wednesday, April 27, 2016

Global Partners Retains NRC for Sale of C-Stores

Source: Convenience Store Decisions
By CSD Staff

NRC is coordinating the previously announced sale of multiple convenience stores by Global Partners.

Global Partners LP has announced that it has retained NRC Realty & Capital Advisors LLC to coordinate the sale of 86 convenience stores with gasoline in the Northeast and Mid-Atlantic.

Of the 86 sites, 28 are located in Connecticut, 22 in Massachusetts, 12 in New York, eight each in Maine and New Hampshire, five are in Rhode Island and three are in Maryland. These c-stores and stations are part of a group of non-strategic retail locations being sold by Global, which announced the planned sale in February 2016.

The average lot size is 28,000 square feet, and the average building size is 1,700 square feet, ranging from kiosks to locations of more than 4,610 square feet. Of the 86 sites, 51 are fee-owned properties and 35 are leaseholds.

“These are all unique properties, many in markets where building new stations may not be possible,” said Evan Gladstone, executive managing director of NRC. “The portfolio consists of sites that may be of interest to first-time c-store owners as well as experienced multi-site operators and jobbers.”

The properties will be sold using NRC’s well-known “buy one, some or all” sealed-bid sale process. For a complete list of the properties, their channels of trade, site specific information and instructions for submitting offers, please visit www.nrc.com/1608. Interested parties can register online for sale updates or by calling the NRC Customer Service Center at (800) 747-3342, extension 1608.

Property Specific Packages are expected to be available in early May, with a bid deadline of June 21, 2016.