Global Partners LP decided to sell 54 non-strategic locations with gasoline in the Northeast and Mid-Atlantic. Of the 54 sites, 21 are located in Connecticut, five in Massachusetts, one in Maryland, three in New Hampshire, 10 in New York, two in Rhode Island, one in Virginia and 10 in Vermont.
The majority of sites are over 15,000 square feet and up to four acres, and buildings range from kiosks to 6,600 square feet in size. Thirty-five of the sites being offered are fee-owned properties, and 19 are leases from third-party landlords. Sites are being sold with Global fuel supply agreements and are branded Shell, Mobil, Exxon or other major gas brands.
“This is a great opportunity for smaller operators and dealers to buy one or more sites,” said Evan Gladstone, executive managing director of NRC Realty & Capital Advisors LLC, who is helping Global sell. “Most sites available for sale over the past several years have been snapped up by larger companies.”
The properties will be sold using NRC’s well-known “buy one, some or all” sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available online. Interested parties can register online to view detailed information about the sites or by calling the NRC Customer Service Center. Due diligence packages on the sites are expected to be available in late July, with a bid deadline in late August.