SPRINGFIELD, Mo. -- Fourteen Conoco- and Phillips-branded gas stations and investment properties in the Springfield, Mo., area have been placed up for auction by the owner-operator. The portfolio consists of 11 operating stations and convenience stores (two with Subway restaurants), a bulk plant, a strip center (with a Subway restaurant) and two commercial buildings.
Six of the stations are operated under the Conoco brand. They are located in Norwood, Hartville, Fordland, Mansfield and Mountain Grove and Seymour, Mo. Four of the stations are operated [image-nocss] under the Phillips 66 brand. They are located in Conway, Lebanon (2) and Richland, Mo.
One unbranded station/c-store in Lebanon features Taylor's Dairy Joy, a Route 66 classic driveup restaurant that is a novelty in the area. The station building is 1,400 square feet with two dual-sided fuel dispensers. In 2006, the location sold 208,726 gallons of gasoline.
The strip center is in Hartville, Mo. Two vacant commercial buildings are located in Fordland, Mo. The bulk plant is located in Lebanon.
Real estate auction company Sheldon Good & Co. Auctions LLC is managing the sealed-bid auction. The properties are being sold through Sheldon Good's sealed bid absolute auction process whereby five of the 14 properties will be sold absolute, regardless of price to the highest bidder. The sealed bid deadline is Wednesday, Sept. 12, 2007.
A bidder's information packet is available for each parcel, and may include such items as the purchase and sale agreement, preliminary commitment of title, detailed property information, copies of real estate tax bills, financial statements, an environmental report and other applicable information. Hard copies of the Packets cost $50.00 and can be obtained during Bidder's Seminars, or can be ordered from the Sheldon Good Auction Information Center by calling (800) 315-2199. There is a $25 fee for shipping. Packets can also be downloaded for $30 per packet via the Auctioneer's website at www.sheldongood.com/gasstations.php. The purchase of a Bidder's Information Packet is a requirement in order to bid the auction.
The properties are open for inspection during normal business hours. Store managers and employees have been instructed to refer all buyer questions directly to Sheldon Good. Buyer's seminars will be held August 9 and August 30 at noon by appointment only in Springfield.
Chicago-based Sheldon Good & Company is involved with auction programs in both the commercial and residential real estate sectors. The company's newest growth area includes a nationally oriented petroleum marketing division to auction station/c-stores and other petroleum industry properties throughout the United States.
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