NRC Realty & Capital Advisors has been retained by institutional investors advised by J.P. Morgan Global Alternatives to facilitate the sale of three closed convenience stores with gas in Dodgeville, Wis., Melrose, Minn., and St. Joseph, Minn.
The Dodgeville store boasts 5,800 square feet on an acre lot built in 1997. Dodgeville is about 45 miles west of Madison.
The Melrose store — which has a Subway tenant — features 4,300 square feet on a three-quarter acre site built in 1987.
Lastly, the St Joseph store is a 3,300-square-foot store on an acre site built in 2004 and about 25 miles from Melrose — approximately 100 miles from the Twin Cities.
“These stores are being sold with real estate and without gas or c-store brand, and were closed last fall when Mountain Express filed bankruptcy. They will be of interest to small operators, c-store companies and fuel distributors,” said Evan Gladstone, executive managing director of NRC.
The properties will be sold using NRC’s “buy one, some or all” sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available here. Interested parties can register online to view detailed information about the sites or call the NRC Customer Service Center at 800-747-3342, extension 2402.
Due diligence packages on the sites (PSPs) are expected to be available in early April, with a bid deadline May 14.
NRC Realty & Capital Advisors, LLC provides real estate and financial advisory services to the convenience store and petroleum industry and specializes in structured sales of commercial real estate nationwide
