ALBUQUERQUE, N.M. -- Ever-Ready Oil Co. Inc., which began closing its 31 sites in May, "just couldn't continue to operate" the locations, Jay Annand, president of Annandale Real Estate, which is hosting a series open houses to sell them, told CSP Daily News.
Annand described the sites as "a little bit of everything," from cardlocks to gas stations and convenience stores ranging in size from 900 to 2,400 square feet on half-acre to three-acre parcels.
As reported in a Morgan Keegan/CSP Daily News Flash, Dallas-based Annandale Real Estate, in conjunction [image-nocss] with Los Lunas, N.M.-based Hopkins Real Estate, will be hosting open houses at the facilities in and around Albuquerque, N.M., on August 24.
Annand said the sites have been in receivership with San Diego-based commercial real-estate turnaround services firm Trigild Inc. for the past three to four months, with "about half" having been shut down for the past 45 to 60 days and the others continuing to operate on month-to-month independent leases until the companies "can get somebody in there."
"We just didn't think it was good to have them shut down any longer than they needed to be," he added.
Annand said that land in Albuquerque can be very expensive, and it can also be very difficult to build there so owning such a site can be "worth a lot." He also said six of the properties include liquor licenses, which can be very difficult to obtain in New Mexcio.
He said the companies would consider selling them as a whole portfolio, individually or in small groupings. The deadline to submit offers is September 7, 2010. From there, the company will look at offers and either accept them or begin negotiations. "We're just telling people to make the offer on the ones they want the most, and we'll see how it goes," he said.
Click herefor the property list.
More information on each of the properties is available atwww.annandaleco.com or by calling Fred Hopkins or Rob Exline at (877) 883-0003. Contact Mitzi Pangman atmitzi@annandaleco.com to schedule private meeting times on August 24.
Albuquerque-based Ever-Ready formerly owned and operated 28 Chevron and three Conoco stations. It also had a network of national and proprietary commercial fueling sites and a wholesale division that sold and distributed lubricants and approximately 40 million gallons of wholesale fuels yearly throughout New Mexico.
(Click here for previous CSP Daily News coverage.)
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