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HOUSTON -- McCullough Oil bought six Jolly Food Stores in the greater Birmingham, Ala., market.
Houston-based real estate firm, Situs closed the deal at the beginning of this month for an undisclosed amount. All of these sites were sold as fee simple gas stations and convenience stores.
David Bowers, vice president of McCullough Oil, said he plans to rebrand the former Jolly properties to either Chevron or Citgo branded retail outlets.
Situs Inc. handles the sale of retail petroleum assets, having been engaged by numerous lenders to handle dozens of loan workouts, receiverships, notes sales, and the sale of convenience stores numbering in the hundreds. Situs also provides disposition services for owner-operated stores, travel plazas and various other types of commercial real estate.