Tuesday, August 11, 2009
Circle K Selling 74 De-branded C-stores
Source: Convenience Store News
August 11, 2009 - LAVAL, Quebec — Alimentation Couch-Tard Inc.'s Circle K subsidiary is selling 74 de-branded c-stores and 13 commercial sites in the Midwest, Southeast and Southwest.
The sale includes 60 operating properties, 22 closed stores and five are vacant sites. All of the c-stores with gasoline being sold have Shell or other branded fuel supply agreements, according to NRC Reality Capital Advisors LLC, which is assisting the sale.
Most of the sites are in the Southeast, including four in Alabama, 41 in Florida, 19 in Georgia, three in North Carolina, two in South Carolina, three in Louisiana and one in Mississippi.
One property in Illinois, two in Missouri and one in Tennessee are for sale. Farther west, there are two properties in Colorado and six in New Mexico. There is one site in Texas on the block.
Most of the sites include real estate, according to NRC. Others are leasehold interests.
"These are all properties which will make excellent locations for the right buyers, "Denny Ruben, managing director of NRC said. "Given the high level of interest in similar locations in these states, and our success in selling such locations, these sites should generate a great deal of interest among potential purchasers.
NRC is selling the sites under a "buy one, some or all" leased bid sale process. The bid deadline is Sept. 29, 2009.
Copyright Â© 2009 Nielsen Business Media, Inc.