Wednesday, August 5, 2009
Enmark to Sell 20 Sites
Georgia-based company seeks to tighten its marketing footprint
Source: CSP Daily News
SAVANNAH, Ga. – In an effort to centralize its retail footprint, Enmark Stations Inc. is selling 20 retail petroleum sites on the outskirts of its market.
"For the most part, these are sites well outside our core marketing area," said Jim Mercer, Enmark's vice president and general manager. "We believe they will make excellent stores for the right buyer."
The sale portfolio, as reported in a CSP Daily News Flash yesterday, consists of operating retail gasoline stations in a variety of formats-some with full convenience stores, some with kiosk only, and some also including carwashes. All 20 properties for sale include the underlying real estate. Two of the stations are in North Carolina, 10 are in South Carolina, and eight are in Georgia. All the stations currently operate under Enmark's private brand.
Enmark has retained NRC Realty & Capital Advisors LLC, Chicago, to handle the sale.
"These are exceptional properties in high-traffic areas," said Evan Gladstone, executive managing director of NRC. "Sites are being sold without supply agreements or branding constraints, and we expect interest from distributors as well as smaller operators."
Individual stores are located in Albany, Baxley, Cedartown, Dublin, Hartwell, Hazlehurst, Pooler and Powder Springs, Ga.; Black Mountain and Hendersonville, N.C.; and Anderson (2 sites), Belton, Fountain Inn, Greenwood, Greenville, Lexington, Moncks Corner, Newberry and Williamston, S.C.
The locations will be sold through NRC's sealed bid process in a "buy one, some, or all" format. Bid deadlines, as well as additional information about the individual properties, will be released over the next few weeks, according to NRC. For sale updates, register online at www.nrc.com/910 or call (800) 747-3342, ext. 910.
Savannah, Ga.-based Enmark Stations Inc. is a 46-year-old chain with about 75 stores.
NRC Realty & Capital Advisors LLC provides a full array of real-estate and financial-advisory services to the convenience-store and petroleum industries, and specializes in the accelerated sale of commercial and residential real estate.
© CSP Information Group, Inc. 2009