CST Brands LLC, parent company of Corner Store convenience stores, is selling 117 properties located in Arizona, Arkansas, California, Colorado, Louisiana, New Mexico, Texas, Utah and Wyoming by sealed bid sale.
CST has retained NRC Realty & Capital Advisors LLC (NRC) to coordinate the offering and sale of the properties.
Sealed bids are required to be received by NRC no later than June 17, 2014, at 3p.m. Central Time (the “Bid Deadline”) and sent to: NRC Realty & Capital Advisors LLC, 350 W. Ontario Street, 4th Floor, Chicago, IL 60654, ATTN: SEALED BID SALE 1406
One hundred of the properties are offered for sale to be operated as convenience stores with gas (Gas Station Properties), and 16 are former gas stations sites that are offered for sale with the fuel system removed. One property is vacant land.
Of the Gas Station Properties, 97 are currently operating (Operating Properties) and three are currently closed (Closed Property).
Of the properties, 104 are offered with the fee interest in the real property (Fee Properties), and 13 are offered with the leasehold interest in the real property (Leased Properties).
All properties include the following fixtures, furnishings and equipment owned by Seller (Basic Equipment): the Topaz POS system, including cash registers, computer monitors, credit card readers, scanners, and back office equipment, shelving and gondolas, plus inventory (which must be purchased separately from Seller as set forth below).
All proprietary information and marks (other than the Valero signage if the bidder enters into a fuel supply agreement with the seller) will be removed prior to closing.
All of the Gas Station Properties are offered with or without fuel supply and bidders may make their offers according to their preference. Although offers without fuel supply will be entertained, the seller’s strong preference is to sell the Gas Station Properties subject to a fuel supply agreement with seller’s affiliate, CST Marketing and Supply Company. Gas Station Properties sold with fuel supply will be sold with a 15-year fuel supply agreement and with fuel priced at rack plus one cent (00.01) plus freight and taxes for Valero branded fuel, or any other branded fuel supplied by CST.
For more information on equipment and other details, visit: www.nrc.com/1406.