Portfolio Of Circle K Stores In Oklahoma Seeks New Property-Owner

Circle K to continue to lease and operate stores at the locations.

 A property-owner is divesting a portfolio of 42 sites, on which Circle K leases stores, in Oklahoma City, Okla.

 The real estate portfolio is listed for sale with an asking price of $60 million. All 42 properties are leased to Circle K on a long-term basis and will only be sold as a portfolio. Circle K will continue as a tenant on the properties according to its lease.

“This is a real estate sale only between a third party real estate investor that has Circle K as a tenant at his properties. Circle K has a long-term lease at these properties and plans to continue to operate them on an ongoing basis,” noted Randy Blankstein, president of The Boulder Group.

The Circle K properties each have 12 lease years remaining and feature multiple rental escalations in the primary lease terms. The triple net leases are all guaranteed by Alimentation Couche-Tard.

The Boulder Group, a national single tenant net lease investment brokerage firm, has been selected as the exclusive advisor for the sale. The investment sales team will be led by Blankstein and Jimmy Goodman of The Boulder Group who are marketing the portfolio on behalf of a private partnership.

“This portfolio represents a rare opportunity for an investor to acquire a large portfolio of triple net leased properties leased to an investment grade tenant,” said Blankstein.

“Demand for the portfolio will be high as the properties are concentrated in a top tier MSA, offer no landlord responsibilities, and each lease features multiple rental esaclations,” added Jimmy Goodman, partner of The Boulder Group.

There are more than 6,000 Circle K sites operating in the U.S. and nine other countries.

 

 

  • chris

    i think its a joke, if its such agood deal then circkle k will buy it.

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