HARVEY, La. — Retif Oil & Fuel LLC has put four convenience stores in Louisiana up for sale. The Food-N-Stores are in New Iberia and Hammond, and two others are in St. Martinville.
They range in size from 3,000 to 4,700 square feet and are on lots from nearly half an acre to 1.2 acres. The stations are all branded Chevron, but they are being sold with or without fuel supply.
Founded in 1965 and based in Harvey, La., Retif Oil is a family-owned business that has been operated by three generations of the Retif family. It is a wholesaler and retailer that operates in seven states across the Southeast: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi and Texas. The company has 16 Food-N-Fun c-stores, some with Subway sandwich shops. Some offer Krispy Krunchy Chicken and Danny & Clyde's sandwiches. One store is adjacent to the company’s Big Easy Casino. It also has several Price-N-Low discount tobacco and liquor locations.
“These are attractive properties,” said Evan Gladstone, executive managing director of NRC Realty & Capital Advisors LLC (NRC), which is handling the sale on behalf of Retif Oil. “With the intense consolidation in the convenience-store industry, we expect spirited bidding from individual operators and local jobbers.”
The four properties are being sold through NRC’s sealed-bid sale process, with bids due on July 23. Further information can be obtained through the NRC website. Due diligence packages, which contain real estate and financial information on the sites, should be available in the next several weeks.
Chicago-based NRC provides real estate and financial advisory services to the convenience-store and petroleum industries and specializes in the accelerated sale of commercial real estate.