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    Convenience Stores Put on Block by Realty Firm

    Situs Inc. to sell 36 c-stores, two travel centers, a former corporate headquarters office complex and one redevelopment site.

    HOUSTON -- Situs Inc., a real estate consulting firm based in Texas, is set to manage the disposition of convenience stores located across Minnesota, Wisconsin, Missouri, Arkansas and Texas. Situs is actively marketing these sites, which are for sale on a “one, some, or all” basis to industry contacts and local brokers.

    Nine of the convenience stores are located in Minnesota and Wisconsin. The average store size is approximately 2,000 to 2,500 square feet with the majority of the stores in smaller metropolitan or rural areas. All of the stores provide service for unbranded gasoline and maintain fee simple ownership interests.

    In southern Missouri and northeastern Arkansas, the properties include 18 convenient stores, two travel centers, a former corporate headquarters office complex and a redevelopment site. The properties include a number of high volume stores, as well as a small number of properties that are leased to dealers. The majority of the properties operate under the Conoco brand and many feature co-branding and liquor sales.

    The remaining nine convenience stores are located in the Beaumont, Texas, providing an acquisition opportunity for a local, regional, or national operator.

    "We have been engaged to sell several properties and those wise enough to jump on the chance could grow their business easily,” said Philip Sussman, a Situs associate. “We're selling these sites 'as is' and they could provide a great opportunity for an operator to open a new store."

    For further information, contact Situs at (713) 626-7700 or visit www.situscos.com.

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