Circle K Stores Inc. has engaged NRC Realty & Capital Advisors to coordinate and manage the sale of 269 sites across 29 states in the U.S. and 37 sites across six provinces in Canada. Of the 306 sites, 122 are fee-owned and 184 are leased, while 238 properties sell fuel and 68 are convenience only.
The stores have an average building size of approximately 2,600 square feet and an average lot size of 29,500 square feet.
“We are excited to assist Circle K in this sale, and we expect great interest from a wide range of retailers large and small, as well as other players who have expressed active interest in the convenience store industry,” said Evan Gladstone, NRC’s executive managing director. “These stores are being offered in packages, grouped primarily by geography, and provide many excellent opportunities for regional and local players to acquire attractive properties.”
The packages are further subdivided into smaller pools. Offers will be considered for a single package, multiple or all packages, a single pool or any combination of pools. Offers on individual stores, or less than all of the stores in a pool, will not be considered, except for a small number of stores which are offered as a single-site pool.
The stores are all offered with or without fuel supply and without convenience store brand.
Expressions of interest on the stores will be due on or before May 7, 2021.
NRC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries in North America. NRC’s breadth of experience in the convenience-store arena includes portfolio evaluation and analysis; refinancing, recapitalization and sale-leaseback financing options; portfolio and single site store sales and merger and acquisition advisory services.