Sun State Oil to supply fuel to the multiple new owners that acquired the 30 properties.
NRC Realty & Capital Advisors LLC’s subsidiary, NRC Realty Advisors of Florida LLC, has completed the sale of the final 30 properties formerly owned and operated by Ryan Phillips (Phillips Oil) and located in the panhandle of Florida.
Sun State Oil Inc. will be the fuel supplier for the stores, although there are multiple new owners of the real estate. Virtually all are operating c-stores with motor fuel. NRC had initially been retained to sell some 52 sites on behalf of the national lender who then had possession of the stores, and closed on the sale of 22 sites earlier this year to Hewatt Enterprises and existing dealers.
“We believe this deal represents a ‘win-win’ for all involved – from the financial institution to the buyers of the real estate and businesses to Sun State Oil and to the communities the stores serve,” said Evan Gladstone, NRC’s executive managing director.