ST. LOUIS Family-owned real estate development firm Sansone Group has formed Sansone Oil LLC and will invest $8 million to build and operate two Mobil On The Run locations, reported the St. Louis Business Journal.
Sansone Oil will break ground on the first station later [image-nocss] this summer in Imperial, Mo., said the report. The company plans to build its second station early next year at the Sansone Group's $60 million Plaza on the Boulevard shopping center in Jennings, Mo.
Each location will include a gas station, convenience store and car wash, according to the report.
Sansone Group Chairman Anthony Sansone Sr. and principals Jim, Tim, Doug and Nick Sansone are investing in the new venture. Mark Kornfeld, an employee at Sansone Group, will become general manager of Sansone Oil and also will invest in the business.
"We've been talking about doing this for a few years," Jim Sansone told the newspaper. "We're familiar with the concept and thought there was a void in the marketplace. These facilities can service our existing shopping centers and also help us get involved in other areas where we don't own shopping centers. By building to the south and north of the St. Louis area, we think it will open up other opportunities in between. Plus, we're a big family, and this may provide some new opportunities [within the business]."
He said he expects Sansone Oil will eventually expand to several locations throughout the Midwest.
Sansone Oil received its franchise licenses from Wallis Cos., Cuba, Mo. One of the largest gasoline distributors and c-store operators in Missouri, Wallis is the regional franchise developer for Mobil's On The Run concept. Wallis owns and operates more than 40 gasoline/c-stores and services more than 70 stations under the BP Amoco, Mobil, Conoco and Phillips 66 brands. It owns or is affiliated with about 70 locations in the greater St. Louis area, the report said.
Founded in 1957, Sansone Group specializes in property and facility management, brokerage, development and redevelopment of retail, industrial, office and residential properties. Currently, Sansone Group manages more than 20 million square feet of retail, industrial and office properties and more than 3,000 residential units.
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