Mergers & Acquisitions

Open & Shut for November 2014

The month's roundup of new convenience store openings and more

OAKBROOK TERRACE, Ill. -- This edition of the Open & Shut digest of new convenience store openings, sales, acquisitions and store closings features listings for the month of November 2014.

Shop 550 (CSP Daily News / Convenience Store Stores / Gas Stations)

The unscientifically gathered roundup is by no means complete, but serves as a monthly "snapshot" of newly opened or closed U.S. convenience stores, gas station, truckstops and travel centers not previously reported in CSP Daily News.

Many of the stores are owned by independent operators, while others belong to major chains, some part of CSP's Convenience Top 101.

The list has been arranged by state. Click through each item for more details on each store.

Please send your new-store announcements and other industry news to Greg Lindenberg at glindenberg@cspnet.com.

California

Real-estate advisors Hanley Investment Group announced on November 17 that it negotiated the sale of a triple-net (NNN) ground lease occupied by a single-tenant 7-Eleven in Oceanside, Calif., for $2.1 million, which represented a 4.29% capitalization rate. The 2,400-square-foot 7-Eleven convenience store building and gas station is situated on a 25,700-square-foot lot, the site of a former Union 76 station. Hanley represented the seller, a private investor from Agoura Hills, Calif. Jay Patel of Cushman Wakefield represented the buyer, a private investor from northern California.

Florida

On November 14, Thorntons Inc. announced the official opening of its newest Tampa, Fla., convenience store, the eighth in the Tampa market.

Iowa

Kum & Go LC opened a new convenience store in Urbandale, Iowa, on November 14.

Kansas

Shop550, a new gas station and convenience store, opened on November 7 in Wichita, Kansas, at the site of the former Miriam's Quick Mart. Owner AJ Aluthwala's Bredix Inc. supplies about 80 area mom-and-pop c-stores with items such as lighters, ashtrays, animal figures, bracelets and anklets. This is the company's first foray into owning a c-store. "We have plans to open up two more convenience stores within the next couple of years," Aluthwala said.

Maine

Daigle Oil Co. celebrated the grand re-opening of its full-service Doc's Place CITGO gas station in Bangor, Maine, on November 7.

Maryland

Wawa Inc. held the grand opening for a new convenience store in Halethorpe, Md., on November 14.

Minnesota

Kwik Trip Inc. opened a new convenience store in Duluth, Minn., on November 14.

Mississippi

Love's Travel Stops & Country Stores Inc. opened a travel stop in Columbus, Miss., on November 13.

New Jersey

After 40 years, Wawa replaced its store at Princeton University with a new store next to the new Princeton, N.J., train station. It opened on November 21 and features the chain's newest design prototype, which includes a "kitchen-forward" design and a full-service beverage area. The store will have architectural features unique to the location, including those designed to coordinate with the transit center.

New York

Stewart's Shops held the grand opening of a new convenience store in Cobleskill, N.Y., on November 7.

Pennsylvania

Marathon Petroleum Corp.'s new Speedway convenience store in White Oak, Pa., opened on November 17.

South Carolina

In mid-November, The Spinx Co. opened a new convenience store in North Charleston, S.C.

South Dakota

Kum & Go opened a new convenience store in Sioux Falls, S.D., on November 20. It is the company's seventh c-store in Sioux Falls.

Texas

CST Brands held a grand opening celebration for a new Corner Store convenience store in Plano, Texas, on November 6, and in Round Rock, Texas, on November 18.

Stripes Convenience Stores held grand opening events for new locations in Conroe, Texas, on November 7; Willis, Texas, on November 9; Corpus Christi, Texas, on November 18; Cleveland, Texas, on November 19; and Killeen, Texas, on November 25.

Utah

A new Love's Travel Stop & Country Store in Salina, Utah, opened on November 20.

Virginia
TravelCenters of America's Roanoke, Va., TA truckstop closed permanently on November 15. The Virginia Department of Transportation acquired the land to improve access to Interstate 81.

Wisconsin

Kwik Trip opened new convenience stores in Seymour, Wis., on November 5 and Oconto, Wis., on November 7.

A new Love's Travel Stop & Country Store in Fond du Lac, Wis., opened on November 20, the company's third travel stop in Wisconsin.

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