Nine Stores for Sale in WI, MN

Bids sought in lender-ordered offering

HOUSTON -- Nine convenience stores in western Wisconsin and eastern Minnesota are on the sale block as part of a lender-ordered sale. Eight of the stores are currently operating as unbranded and the ninth site in closed.

All of the convenience stores maintain fee-simple ownership interests. The average size store is approximately 2,000 to 2,500 square feet, and the majority of the stores are in smaller metropolitan areas or rural areas. The sites are being sold without any supplier agreements attached.

The Wisconsin stores being [image-nocss] sold through Houston-based Situs Capital Services are in Menomonie, Eau Claire (2), Osceola, Centuria, Clear Lake and Frederic. The Minnesota sites are in Zimmerman and Clearwater.

Situs Capital Services, which asked that the lender not be named, has been heavily involved in the sale of retail petroleum assets for the last several years, having been engaged by numerous lenders to handle dozens of loan workouts, receiverships, note sales and the sale of convenience stores. Situs also provides disposition services for owner-operated stores, travel plazas and various other types of commercial real estate.

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