Wednesday, May 4, 2016
NRC Arranges Sealed Bid Sale for Sunshine Fuel
Sunshine Fuel is offering a bulk package of 21 convenience stores with fuel through a sealed bid sale, arranged by NRC
Source: Convenience Store DecisionsBy CSD Staff
Palm Beach, Fla.- based Sunshine Fuel LLC has retained NRC Realty & Capital Advisors LLC to coordinate the sale of a bulk package of leasehold interests in 21 convenience stores with gasoline. Included in the package are 16 Kansas locations, three Missouri locations and two Oklahoma locations. In addition to the leasehold interests, the company is selling the sublease/fuel supply interests in said stores. The company is also offering two fuel supply agreements providing gas to the stores and two fuel supply-only stores located 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. Sites are being sold as a bulk package and include jobber fuel supply agreements with Shell and Conoco Phillips. Most of the stores have up-to-date imaging and full size convenience store operations. The sites are located in suburban and city locations.
“These stores are selling 18 million gallons annually,” according to 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,” Walker said.
The properties will be sold using NRC’s well-known sealed-bid sale process. A list of the properties and information regarding submitting offers is available online at www.nrc.com/1610. Interested parties can register online or by calling the NRC Customer Service Center at (800) 747-3342, extension 1610. Property Specific Packages are expected to be available in mid-May, with a bid deadline of June 14, 2016.