Tuesday, November 3, 2020
Burch Oil Exits Retail
Company sells 8 convenience stores in Maryland
Source: CSP Daily NewsBy Greg Lindenberg, Editor
GREENBELT and HOLLYWOOD, Md. — NSR Petro Services LLC (NSR) has purchased Burch Oil Co. Inc.’s portfolio of eight Burchmart convenience stores. Hollywood, Md.-based Burch Oil is exiting the c-store business with the sale.
The stores average 3,000 square feet on sites in excess of 1.1 acres, are located in located in southern Maryland, southeast of the Washington, D.C., metropolitan area, in Charlotte Hall, Hollywood, Hughesville, Leonardtown, and Prince Frederick and Waldorf, Md., with two located in Mechanicsville, Md. All sell Shell-branded fuel.
Samuel Burch founded Burch Oil in 1928. The company began operations as a distributor of gasoline, kerosene and motor oil, and in 1977 began retail operations through service stations and car wash locations. In 1986, the company created a retail division with the purpose of building a c-store and gas station business. The retail division, which grew to include eight stores, began incorporating Subway quick-service restaurants (QSRs) in 1994, and five of the eight Burchmart locations have Subway franchises.
More than 90 years after the founding of Burch Oil, the fifth generation of the Burch family continues to work as part of the family’s businesses. The company will continue to operate all of the remaining business lines after the sale of the c-stores. Those lines include heating oil, propane and lubricants delivery and heating and air conditioning services.
“The Burch family was extremely proud of the network of convenience stores that it built over the last 34 years and has worked hard to provide our customers with the highest quality offerings and service,” said Kelli Mattingly, director of retail operations for Burch Oil. “It was an extremely difficult decision for our family to sell our retail network, but we concluded that, for a number of reasons, it was the right time to proceed with a sale.”
The sale “was obviously a difficult decision” for Burch Oil, especially given the challenging economic challenges created by the pandemic, said Dennis Ruben, executive managing director of NRC Realty & Capital Advisors LLC, Chicago, which handled the transaction.
Greenbelt, Md.-based NSR and its affiliates operate 40 c-stores and gas stations and distribute Sunoco-branded motor fuels, as well as BP, Exxon, Marathon, Mobil and Shell. Nasir Cheema, Sajid Chaudhry and Riaz Ahmad founded the company in 2000 with the purchase of two stores in the Baltimore-Washington metropolitan areas. Through acquisition and organic growth, NSR is a diversified real estate holding company, with investments in retail, car washes, restaurants and entertainment assets.
“NSR could not be more pleased to be able to purchase the Burchmart stores from the Burch family,” said Ahmad, executive vice president of NSR. “We are honored to be able to continue servicing the customers in these markets, and hope that we can do so with the same quality and care as was shown by the Burch family.”
To see a list of convenience stores and gas stations for sale, click here.