Mergers & Acquisitions

Open & Shut for October 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 October 2014.

Sheetz Open & Shut (CSP Daily News / Convenience 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.

Alabama

Love's Travel Stops & Country Stores opened a travel stop in Ozark, Ala., on October 2. It has an Arby's restaurant, 68 parking spaces, seven showers, a Love's Truck Tire Care center, coffee, fresh fruit, gift merchandise, RFID cardless fueling technology, CAT scales and more. Love's also opened a travel stop in Muscle Shoals, Ala., on October 30. It features 76 parking spaces, seven showers, RFID cardless fueling technology, a Love's Truck Tire Care center, CAT scales, snacks and beverages, gift merchandise, McDonald's and Subway restaurants and more.

California

Ayaz Farooqui opened a Quick Mart convenience store in Murrieta, Calif., in mid-October. It features a small lobby with a set of personal mailboxes and a market area where shoppers can buy drinks, snacks and sundries. Other services include check cashing and lottery.

A Circle K convenience stores opened in Concord, Calif., on October 6, and a second store opened in Pleasanton, Calif., on October 7. Both are part of the Circle K franchise system, and offer lottery, propane and is co-branded with 76 fuel.

Colorado

Hanley Investment Group negotiated the sale of an absolute NNN single-tenant 7-Eleven in Denver. The purchase price was $1.88 million, which represented a 4.60% capitalization rate, one of the lowest for a single-tenant 7-Eleven on record in the state of Colorado. The seller is a private investor from Frisco, Texas. The buyer is also a private investor. The 2,900-square-foot 7-Eleven, which was built in 2012, is situated on a 0.34-acre parcel.

Connecticut

In early October, CITGO marketer Consumers Petroleum and its Wheels Convenience Stores opened convenience stores in Glastonbury, Conn., and Westport, Conn. The Westport space marks the reopening of a gas station that closed in 2013 after being a family-owned business for 80 years. Consumers Petroleum is also a family-owned business, with owner Rich Wiehl representing the third generation of entrepreneurs. The Westport Wheels offers Nothin' But Foods products--first sold through local cafes, farmer's markets, and gyms--among its other convenience store items.

Illinois

A new Circle K convenience store opened in Joliet, Ill., on October 1. Part of the Circle K franchise system, the store offers lottery, propane and is open 24 hours; it is co-branded with Mobil fuel.

Iowa

Kwik Trip opened a Kwik Star convenience store in Waterloo, Iowa, on October 2.

Kum & Go opened a new, 5,000-square-foot convenience store in Des Moines, Iowa, on October 30. It offers freshly made-to-order pizzas, baked goods and breakfast and deli sandwiches ­prepared daily in an onsite kitchen.

Massachusetts

Cumberland Farms held a grand opening on October 27 for a convenience store in North Adams, Mass.

Minnesota

Kwik Trip opened new convenience store on October 13 in Stacy, Minn., in Hermantown, Minn., on October 17 and in West Duluth, Minn., in late October.

Missouri

Kum & Go opened new convenience stores in Springfield, Mo., on October 10 and October 24. The 5,000-square-foot stores replaced nearby stores. They offer freshly made-to-order pizzas, baked goods and breakfast and deli sandwiches prepared daily in Kum & Go's onsite kitchens.

New Jersey

Wawa held the grand opening for a convenience store in Egg Harbor Township, N.J., on October 24.

New York

Nice N Easy Grocery Shoppes held the grand opening of an Evans Mills, N.Y., convenience store on October 25.

A new Stewart's Shops convenience store opened in Cropseyville, N.Y., with a grand opening on October 10. And a new Stewart's Shops convenience store opened in Liverpool, N.Y., with a grand opening on October 24. It also celebrated the grand opening of a replacement shop in Rotterdam, N.Y.

NOCO Express announced on October 1 that it has purchased a Mobil Mart in Buffalo. It will remain Mobil branded. As part of the acquisition, NOCO will be renovating the 2,200-square-foot convenience store and add a full-service Tim Horton's and expanded product offerings. NOCO's exclusive Nickel City Foods fresh offerings will also be available.

Ohio

Pilot Flying J opened a Pilot Travel Center today in Chillicothe, Ohio, on October 13. It offers seven diesel and 10 gasoline lanes; 66 parking spaces for trucks; a drivers' lounge; five showers; a Moe's and a Cinnabon; hot deli items including hot dogs, sandwiches, pizza and soup; coffee and cappuccino; and more.

Sheetz opened a new convenience store in Strongsville, Ohio, with a ribbon cutting on October 2.

Oklahoma

When a tornado hit the City of Quapaw, Okla., about 60 homes and businesses were damaged or destroyed. Getting the city back on track after the storm is why Stephanie Bruner and her family decided to open up a new convenience store. She is the owner of Wildcat Express, the first business to open after the storm hit in April.

Pennsylvania

In mid-October, Rutter's Farm Stores has completed renovations at the convenience store located in Dover, Pa. The new site will now be open 24 hours a day, 7 days a week and includes six fueling positions with diesel. A new LED canopy will provide efficient bright lighting and protection from the weather to customers pumping fuel. Inside, it has added touchscreen food order kiosks and an updated menu of subs, fresh salads, gourmet, jumbo chicken wings, mahi-mahi fish tenders, Ultimate Burgers and all-beef short ribs. Breads, muffins, cookies and biscuits will be baked fresh in the store daily. It has also expanded the coolers.

Rhode Island

Seasons Corner Market held a grand opening for new convenience stores in Warwick, R.I., on October 15 and in East Greenwich, R.I., on October 24.

South Carolina

A new QuikTrip convenience store opened in Greer, S.C., on October 2.

Tennessee

As of October 31, Sunoco gas pumps are open and operating at the B&D Auto & Truck repair station in Memphis, Tenn. B&D owners Bruce and Diane Christy also have included a small shop that features coffee, cappuccino and fountain pops, along with snacks, candy and cigarettes.

Texas

Stripes Convenience Stores held the grand opening of its first store in Odem, Texas, on October 24, and it held the grand openings of c-store in Pasadena, Texas, and Houston on October 30.

CST Brands held a grand opening celebration and a ribbon-cutting ceremony on October 31 for a Corner Store convenience store in Humble, Texas.

On October 16, The Royston Group announced that it completed the sale of a NNN Valero gas station leased to CST Brands. The single-tenant net-lease gas station in Houston included a 2,813-square foot-building and sold for $2.55 million. The property sits on 31,000 square feet of land. The site was leased on an absolute triple-net basis to CST Brands operating as a Valero gas station. The initial lease term was 20 years with rent escalations every five years. The buyer purchased the property as part of a 1031 exchange. Investment highlights included a long-term NNN lease with rent increases, an excellent retail location and an experienced high-credit tenant in CST Brands.

Virginia

Circle K MACS opened a convenience store in Luray, Va., in mid-October.

Wisconsin

​Kwik Trip opened convenience stores in Fond Du Lac, Wis., on October 12, Boscobel, Wis., on October 13, Rhinelander, Wis., on October 14, Superior, Wis., on October 17 and Big Bend, Wis., on October 22.

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