Friday, December 7, 2018
Global Partners Putting 11 C-Stores on the Block
Company-operated stores with gasoline are all in New York
Source: CSP Daily NewsBy Greg Lindenberg , Editor
WALTHAM, Mass. — Global Partners LP is selling 11 company-operated convenience stores with gasoline in New York, in the Albany, Schenectady, Poughkeepsie and Germantown areas.
The lot sizes range from 12,000 square feet to 2 acres and the buildings range from kiosks to 3,355 square feet. Four of the sites are fee-owned properties and seven are leaseholds. The company is selling the sites with Global fuel supply agreements.
Global Partners has retained NRC Realty & Capital Advisors LLC, Chicago, to sell the properties. NRC is selling them with its “buy one, some or all” sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available online. NRC said it expects due diligence packages on the sites to be available in January 2019, with a bid deadline in late January or early February.
NRC provides real estate and financial advisory services to the convenience store and petroleum industry and specializes in structured sales of commercial real estate nationwide.
Waltham, Mass.-based Global Partners is a midstream logistics and marketing master limited partnership with one of the largest terminal networks in the Northeast. With approximately 1,500 locations, primarily in the Northeast, it is one of the largest regional independent owners, suppliers and operators of gas stations and c-stores. It operates c-stores under the Alltown Market, Alliance and Xtra Mart names.
Global Partners is No. 29 on CSP’s 2018 Top 202 ranking of c-store chains by number of company-operated retail outlets.
Earlier this year, Global Partners acquired the T-Bird c-store chain from Keene, N.H.-based Cheshire Oil Co. LLC and the Jiffy Mart c-store chain from Champlain Oil Co. Inc., South Burlington, Vt.
Global Partners is also one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. It is also engaged in the transportation of petroleum products and renewable fuels by rail from the mid-continental United States and Canada.
To see a list of convenience stores for sale and gas stations for sale, click here.