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Tuesday, August 21, 2018

Petroleum Marketing Group Selling Five Locations

Source: Convenience Store Decisions
By CSD Staff

All five retail properties are located in Chesapeake, Va.

Petroleum Marketing Group (PMG) has retained NRC Realty & Capital Advisors LLC (NRC) to coordinate the sale of five PMG owned retail locations with gasoline in the Mid-Atlantic.

Of the five sites, three are company operated, one is dealer operated and one is currently closed. Stores are all located in the Chesapeake, Va. area, which is home to U.S. military installations and a growing tech industry presence.

Lot sizes range from 24,000 square feet to 1.2 acres and buildings range from kiosks to 1,500 square feet. Stores are branded Shell and independent, and PMG is selling the stores with and/or without long-term supply agreements.

“These stores are in great areas and have good sales. This is a great opportunity for those already operating in this market as well as for others looking to enter the area,” said Evan Gladstone, executive managing director of NRC. He continued, “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 Interested parties can register online to view detailed information about the sites or by calling the NRC Customer Service Center at 800-747-3342, extension 1815. Due diligence packages on the sites (PSPs) are expected to be available shortly.

PMG was founded in 2001, and has grown to become one of the leading jobbers and distributors of petroleum products and operators of convenience stores in the Mid-Atlantic region. Headquartered in Woodbridge Va., PMG services more than 1,650 locations, from Maine to Florida.

To see a list of convenience stores for sale and gas stations for sale, click here.