Wednesday, May 4, 2016
Sunshine Fuel Selling 21 C-stores With Fuel Supply
The bulk of the sites are in Kansas
Source: Convenience Store News
PALM BEACH, Fla. — Sunshine Fuel LLC is putting the leasehold interests of several assets on the market.
The Palm Beach-based company retained NRC Realty & Capital Advisors LLC to coordinate the sale of the leasehold interests in 21 convenience stores with gasoline: 16 in Kansas, three in Missouri and two in Oklahoma.
In addition, the package includes sublease/fuel supply interests in the c-stores, as well as two fuel supply agreements providing gas to the stores, plus two fuel supply-only stores in Kansas and Oklahoma.
The properties offered are leased from third-party landlords under long-term agreements, and Sunshine Fuel subleases the sites to individual dealers, according to NRC.
The sites are being sold as a bulk package and include jobber fuel supply agreements with Shell and ConocoPhillips. Most of the locations have up-to-date imaging and full-size convenience store operations. The sites are located in both suburban and city locations.
"These stores are selling 18 million gallons annually," said Ian Walker, NRC's senior vice president. "This should be a good fit for smaller distributors or jobbers, and we expect good interest from the market given the number of gallons in play."
The properties will be sold using NRC's sealed-bid sale process. Property-specific packages are expected to be available in mid-May, with a bid deadline of June 14.