Mergers & Acquisitions

Team Schierl Sells 26 The Store Properties to REIT

Retailer will continue to operate the locations after real estate deal
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STEVENS POINT, Wis. — Team Schierl Cos. will continue operating its 26 The Store convenience stores after selling the buildings and properties to an unnamed real estate investment trust (REIT), reported the Stevens Point Journal.

Team Schierl sold the buildings and grounds of the c-stores in Wisconsin and Michigan to the REIT, said the report. Team Schierl owns the equipment, fixtures and inventory. The sale does not affect any store employees.

“Team Schierl Cos. is not for sale and continues to operate with an entrepreneurial spirit,” Kathy Ostrowski, marketing and community engagement specialist for Team Schierl, told the newspaper.

John “Butch” Schierl established Stevens Point, Wis.-based Team Schierl in 1956 as a home heating oil business. He opened the first The Store location in 1976. His three sons, Tim, Fritz and Bill Schierl currently own the company, which operates 26 c-stores, six Schierl Tire & Service Centers, one Hartje Tire & Service Center and 30 Subway quick-service restaurant (QSR) locations in central Wisconsin and the Upper Peninsula of Michigan, according the company's website.

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