You are here
CHICAGO -- Continuing the trend of smaller operators exiting the business, the owner of two California convenience stores is putting the properties up for sale.
NRC Realty Advisors announced yesterday that it has been retained by Deron and Kimberly Brewer to coordinate and execute a sealed bid sale of their two San Luis Obispo, Calif. properties. The sale portfolio consists of a Chevron-branded gas station with c-store and a Shell-branded gas station with a deli, c-store and car wash.
Deron Brewer told CSNews that their plan is to exit the convenience store business. While it will surely be difficult to walk away from the stores, which Brewer said he's put "more blood, sweat and tears into," he is looking forward to spending more time with his family and pursuing other business interests.
"When it comes down to it, I've got two businesses in a great town, but I've been doing this for nine years now. This is a fun business, a challenging business and I've seen success in it. But there's a lot more life to gas stations and I want to experience that," he said.
Of the properties for sale, the Chevron station is fully updated and includes a large convenience store. It has serviced the San Luis Obispo community for over 43 years, and is a popular stop for traffic from nearby Highway 101, according to NCR.
The brand-new Shell station, which opened this January to much public fanfare, has a massive 4,440-square- foot interior that includes a deli with an on-site chef, whose culinary creations have caught the attention of regional food critics. A wireless Internet café and an espresso bar with dedicated baristas round out the property's amenities, NCR said. The store was featured as the "Store of the Month" in the March 6 issue of Convenience Store News.
"These are exceptional properties in high-traffic areas," said Hope Mineo, NCR managing director. "We expect to generate strong buying interest throughout the region."
NRC is offering both an all-inclusive sales brochure, as well as individual property specific packages (PSPs). The free brochure provides overviews of the property listings, including location and sales volume. The $35 PSPs ($25 CD-ROM versions available upon request) contain site-specific bid packages and detailed due diligence information.
Bids are due August 24, 2006. For guidelines or to order brochures and PSPs, contact the NRC Customer Service Center at 800-747-3342, ext. 613, or visit www.nrc.com/613.