Wednesday, November 30, 2016
Global Partners Selling Off More Retail Sites
Taps NRC Realty for divesting of 13 locations
Source: Convenience Store News
WALTHAM, Mass. — Global Partners LP is putting a collective for-sale sign on 13 properties in the Northeast and Mid-Atlantic regions.
Of the locations, seven are former convenience stores and six are vacant retail sites. Waltham-based Global Partners retained NRC Realty & Capital Advisors LLC to coordinate the sale.
Four of the sites up for sale are in Connecticut, and two each are in Maine, Massachusetts and New Hampshire. The remaining three sites are in Maryland, New Jersey and New York.
The lot sizes range from 11,274 square feet up to 1.84 acres, with the average lot size being 26,950 square feet. The average building size is 1,370 square feet, ranging from kiosks to buildings of more than 2,250 square feet.
All sites are fee-owned properties. Sites may be sold with deed restrictions.
"These sites are very appealing for a multitude of automotive, retail and commercial uses," said Evan Gladstone, NRC's executive managing director. "A majority of the sites are located on high-traffic corners in mature neighborhoods and in small towns."
The sites will be sold using NRC's well-known "buy one, some or all" sealed-bid sale process. The bid deadline is Jan. 19.
Global Partners owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. It is also is one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York.
With approximately 1,500 locations, primarily in the Northeast, Global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores.