Global Partners LP has put 54 non-strategic locations with gasoline in the Northeast and Mid-Atlantic up for sale. Of the 54 sites, 21 are located in Connecticut, five are in Massachusetts, one is in Maryland, three are in New Hampshire, 11 are in New York, two are in Rhode Island, one is in Virginia and 10 are in Vermont.
The majority of sites are more than 15,000 square feet and up to four acres, and buildings range from kiosks to 6,600 square feet in size. Thirty-five of the sites being offered are fee-owned properties and 19 are leases from third-party landlords.
The company is selling the sites with Global Partners fuel supply agreements, and they are branded Shell, Mobil, Exxon or other major gasoline brands.
“This is a great opportunity for smaller operators and dealers to buy one or more sites,” said Evan Gladstone, executive managing director of NRC Realty & Capital Advisors, LLC (NRC), which Global Partners has retained to conduct the sale. “Most sites available for sale over the past several years have been snapped up by larger companies.”
NRC has been conducting sales for Waltham, Massachusetts-based Global Partners since 2012. It will sell the properties using NRC’s “buy one, some or all” sealed-bid sale process. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/2302. Interested parties can register online to view detailed information about the sites or by calling the NRC Customer Service Center at 800-747-3342, extension 2302. Due diligence packages on the sites (PSPs) will be available in late July, with a bid deadline in late August.
Chicago-based NRC provides real estate and financial advisory services to the convenience store and petroleum industry and specializes in structured sales of commercial real estate nationwide. NRC is regularly engaged by major industry companies such as Global Partners, 7-Eleven and Circle K as well as by closely held and family-owned businesses in sell-side merger-and acquisition (M&A) transactions.
- Global Partners is No. 24 on CSP’s 2023 Top 202 ranking of U.S. c-store chains by number of company-owned retail outlets.
Global Partners owns, leases or supplies approximately 1,700 locations across the Northeast and Mid-Atlantic, of which 353 are company operated. One of the region's largest independent owners, Global Partners supplies and operates gas stations and c-stores under several retail brands, including Alltown Fresh, Honey Farms and XtraMart.
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