duncan petroleum completes sale

Deal includes 19 Mid-Atlantic stores to an unnamed buyer.

Duncan Petroleum Corp. has concluded the successful sale of its retail and commercial business to an established Mid-Atlantic multi-branded wholesaler. Terms of the deal for the Dover, Del.-based chain were not disclosed.

The deal, according to company president Bob Duncan, included 19 retail petroleum sites, a commercial fuels business and two free standing shopping centers located throughout Maryland’s eastern shore and Delaware. Operating under the name Super Soda Centers, several of the properties also included general commercial retail and office space.

The deal was facilitated by PetroProperties & Finance of Coral Gables, Florida.

“The sale of my petroleum business will now enable me to focus on other real estate ventures that I’ve had on the back burner for years,” Duncan said. “The overall sales process went quite smoothly given the various complexities involved with the transfer of petroleum properties. I’m thankful the buyer knew the drill and was dedicated to making a successful closing happen. The experienced support of my representative, PetroProperties & Finance and specifically John Sartory, their local representative was invaluable in keeping the entire process on track.”

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