TUCSON, Ariz. — Southwest Convenience SPE LLC (SWC), a newly formed limited liability company, has acquired Quik Mart Stores Inc., a chain of 17 convenience stores in the Tucson, Ariz., metropolitan area.
SWC was created for the purpose of acquiring the Quik Mart assets.
Quik Mart is a second-generation family business and is the largest independent convenience store retailer in the Tucson market. J. Wesley Little founded the company in 1965 with the purchase of three c-stores. Little started his career as a grocer, and, as a result, all of the stores still have a strong grocery presence. In addition to a wide array of grocery selections, four stores offer made-to-order sandwiches, salads, burritos and pastries via the company’s Hungry’s Subs and Salads proprietary offering, and three stores offer pizza, chicken wings, hamburgers and other hot foods under the Hot Stuff Pizza franchise.
Quik Mart has earned the title of “Best Convenience Store” by the Arizona Daily Star’s Reader’s Choice Aware for the past three years.
“Quik Mart has been a fixture in the Tucson, Ariz., landscape for over 55 years, and it was an extremely difficult decision for our family to make,” said Troy Little, president of Quik Mart. “However, after careful consideration of various options over a number of years, we concluded that now was the right time to sell.”
Tucson-based SWC dba Quik Mart is owned by Robert Berg, Brett Bishov, Kevin Gandy (CEO of LPT Retail Services) and Akash Chilka, and it will provide an ideal platform to expand in the Tucson metropolitan area, the company said.
“My partners and I have diverse complementary skill sets from a leadership, capital markets and ‘best-in-class’ operational systems and controls perspective, which will serve us well in our efforts to enhance a great business and continue to be positive contributors to the Tucson community,” said Brett Bishov, principal of SWC “My partners and I are impressed with Troy and the outstanding Quik Mart team that he has built; we’re truly honored to continue the amazing Quik Mart legacy.”
NRC Realty & Capital Advisors LLC, Chicago, coordinated the sale. NRC provided real estate and financial advisory services to the c-store and petroleum industries and specializes in the accelerated sale of commercial real estate nationwide.
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