Tuesday, August 21, 2018
Petroleum Marketing Group Puts 5 Sites Up For Sale
Company selling retail locations with or without fuel supply agreements
Source: CSP Daily NewsBy Greg Lindenberg, Editor
WOODBRIDGE, Va. -- Petroleum Marketing Group (PMG), a major jobber and distributor of petroleum products and operator of convenience stores in the Mid-Atlantic, is selling five retail locations with gasoline in the region.
PMG ranked No. 97 in CSP's 2018 Top 202 list of convenience-store chains by number of company-owned retail outlets. Three of the five sites are company-operated, one is dealer-operated and one is currently closed. The stores are all in the Chesapeake, Va., area.
Lot sizes range from 24,000 square feet to 1.2 acres and buildings range from kiosks to 1,500 square feet. The stores are branded Shell and independent, and PMG is selling the stores with or without long-term supply agreements.
PMG has retained NRC Realty & Capital Advisors LLC to coordinate the sale of the five PMG-owned retail locations.
“These stores are in great areas and have good sales,” said Evan Gladstone, executive managing director of NRC. “Anyone with an interest in the Virginia shore market should take a serious look at the stores in this group.”
The properties are available for immediate sale, according to NRC, and a list of the properties and information regarding submitting offers is available online at nrc.com/1815. It expects due diligence packages on the sites to be available shortly.
NRC Realty & Capital Advisors, Chicago, provides real estate and financial advisory services to the convenience-store and petroleum industry and specializes in structured sales of commercial real estate nationwide.
Based in Woodbridge, Va., PMG services more than 1,650 locations, from Maine to Florida. It is an authorized distributor of the Marathon, Shell, Exxon, Mobil, BP, Sunoco, CITGO, Gulf, 76 and Crown brands, and it supplies nonbranded petroleum products as well. PMG delivers more than 1 billion gallons of petroleum on an annual basis.