Wednesday, January 18, 2017
More Than 100 Sunoco LP Properties Up for Sale
Divesture plan spans 15 states
Source: Convenience Store News
DALLAS — Sunoco LP has placed a collective for-sale sign on more than 100 real estate assets, including company-owned locations and undeveloped greenfield sites and other excess real estate.
In a move to shed the properties, the partnership retained NRC Realty & Capital Advisors LLC to "assist with strategic alternatives" for the assets.
The properties are located in Florida, Louisiana, Massachusetts, Michigan, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas and Virginia.
According to Sunoco, the assets will be sold through a sealed-bid sale in a "buy one, some or all" format with bids due on March 7 for the operating sites and on April 4 for the surplus properties.
The partnership will review all bids before divesting any assets.
Dallas-based Sunoco is a master limited partnership that operates approximately 1,345 retail fuel sites and convenience stores, including APlus, Stripes, Aloha Island Mart and Tigermarket brands. It also distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors located in more than 30 states at approximately 6,900 sites.
Energy Transfer Equity LP owns Sunoco's general partner and incentive distribution rights.