Circle K Auction Features Diverse Portfolio

Selling 26 properties including operating stations in four states

By 
Greg Lindenberg, Editor, CSP

Circle K Couche-Tard

LAVAL, Quebec -- In an effort to dispose of surplus properties and tighten up its network, Circle K is selling at auction 26 former Circle K gas stations and convenience stores in four Midwestern states. The sites are located in Illinois, Indiana, Kentucky and Missouri.

As reported in a 21st Century Smoke/CSP Daily News Flash, the list of diverse properties includes operating convenience stores and gas stations and non-operating and razed sites, as well other retail space, office space and cleared lots.

Williams & Williams, a Tulsa-based real-estate auction firm, is conducting the live and online auction for Circle K.

“It's a whole portfolio of properties that range from vacant lots—some very good locations if people are location buyers, there should be some interest in those properties—to properties that are running and making good income today,” Fontana Fitzwilson, executive vice president of Williams & Williams, told CSP Daily News. “It's a really wide variety of properties, mainly located throughout the Midwest.”

She added, “They are excess inventory, surplus properties. Circle K is still in acquisition mode; there are always properties that for whatever reason, they've obtained mainly through acquisitions from other companies, which they don't have a use for, so they're passing those along to a new owner.”

She concluded, “This is a rare opportunity to purchase one great store location or even create or expand a portfolio.”

Participants can bid on site at former store locations, or online during the live auction at AuctionNetwork.com. The auctions will take place over three days—August 10-12—and are open to the public.

Tulsa, Okla.-based Williams & Williams is a real-estate auction firm and a leader in global live and interactive auctions. Previously the company has held surplus auctions for QuikTrip convenience stores, among other retailers.

AuctionNetwork.com is a subsidiary of Williams, Williams & McKissick LLC. It is a 24-hour global broadband TV network that lets bidders participate from anywhere in the world during live and online auctions.

Circle K is a unit of Laval, Quebec-based Alimentation Couche-Tard Inc., which operates a network of more than 7,800 convenience stores throughout North. Its North American network consists of 13 business units, including nine in the United States (under the Circle K and The Pantry's Kangaroo Express brands) in 40 states and four business units in Canada (under the Mac's and Couche-Tard brands) covering all 10 provinces.

Part of CSP's 2015 Convenience Top 101 retailers