Mergers & Acquisitions

Twin City Iowa Acquires 8 C-Stores

Petroleum Services Co. exits industry with sale
Photograph courtesy of NRC Realty & Capital Advisors

JACKSONVILLE, Fla. — Twin City Iowa has acquired eight convenience stores in Iowa from Petroleum Services Co. LLC (PSC). This transaction completes the sale of PSC’s retail assets.

The convenience stores, which operate as Hawkeye Convenience Stores, are in the Cedar Rapids and Iowa City, Iowa, metropolitan areas and offer Sinclair-branded fuels.

“We are very pleased that Twin City has purchased our convenience stores, and with this sale, PSC has exited our convenience-store operation,” said Scott Cornish, president and CEO of Coralville, Iowa-based PSC.

Twin City Iowa is based in Jacksonville, Fla.

“NRC has known Hish Mubaidin, the owner of Twin City, for many years, and we believe that these stores are a good fit for them,” said Dennis Ruben, executive managing director of NRC Realty & Capital Advisors LLC, which handled the sale.

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.

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