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Friday, May 7, 2010

Pantry Sale of Gas Stations Includes 2 in Cape Fear Region

Source: FayObserver.com
By Staff

Two gas stations in the Cape Fear region are among 80 properties being sold off by The Pantry Inc.

NRC Realty & Capital Advisors LLC said this week it is working with The Pantry in a "strategic divestiture" of the stations, convenience stores and empty properties throughout the Southeast.

A Mobil station at 921 W. Broad St. in St. Pauls and a Citgo at 3106 S. Horner Blvd. in Sanford are among 11 locations up for sale in North Carolina.

The stores will be sold using a "buy one, some or all" sealed bid process, according to NRC. A bid deadline has not been set. Information about the sale is online at nrc.com/1005.

"While these sites don't fit with our company's current strategic plans," said Jim Bosworth, a vice president with The Pantry, "they can be excellent locations for the right buyer, be they national distributors, independent operators or those in other retail businesses."

The Pantry is one of the nation's largest independently operated convenience store chains with 1,655 stores in 11 Southeastern states, as of January. Formerly headquartered in Sanford, the company is now based in Cary.