New West Petroleum LLC, of Sacramento, Calif., is selling 32 sites on the West Coast, including 30 convenience stores and two undeveloped parcels, according to NRC Realty Advisors LLC, the Chicago-based company hired by New West to coordinate the sale.
The 30 convenience stores include 22 fee-owned properties, seven leasehold properties and one fee/leasehold combination. Twenty-nine properties are located in the San Diego market area and three are in Northern California.
A number of the sites have repair shops, while all the stations in the San Diego market are Exxon-branded and others are Tiger Marts.
“These are exceptional properties in high-traffic areas and all are being sold without any branding requirements” said Evan Gladstone, executive managing director at NRC. “Sites are being sold without supply, and we expect interest from distributors as well as smaller operators.”
“My family and I have decided to exit the retail business, expand the wholesale fuel business and enter into other business ventures”, said Gil Moore, founder and owner of New West.
The New West locations will be sold through a sealed bid sale in a “buy one, some or all” format, with bids due by July 22. A family-run business founded in 1986, New West started as a wholesale distributor. In 1994 the company acquired its first retail gas station and convenience store, and by 2000 it owned and operated 36 branded sites and three unbranded sites.
