October 05, 2009 -
BRENTWOOD, Tenn. -- Investment firm BAR II LLC bought a pair of Mapco Express convenience stores in the Rhodes College area from Mapco Express Inc. for a combined $1.2 million, the Memphis Daily News reported.
The sales closed Sept. 24, in special warranty deeds, and quitclaim deeds also were filed for the properties. One property is a 2,560-square-foot convenience store built in 1986 with 1.16 acres, the report stated. The Shelby County Assessor of Property's 2009 appraisal for the location is $852,000, and BAR II paid $700,000 for that property, according to the report.
The other property -- a 1,219-square-foot convenience store built in 1988 on 0.52 acres -- was appraised at $238,100 and BAR II paid $475,000, the newspaper reported.
BAR II financed the purchase with a $1.4 million loan through First Capital Bank.
This year is special for Convenience Store News, as it marks the 40th year of publication, making it the longest continuously published news source for the convenience store industry.
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October 05, 2009 -
BRENTWOOD, Tenn. -- Investment firm BAR II LLC bought a pair of 
