Finance & Site Selection
The cost of real estate is continuously rising as convenience store retailers’ fight for good corners to grow the business. Access to capital, whether through existing banking relationships or third-party lenders, is crucial for convenience store owners as they seek to stay competitive, but also to finance store upgrades and invest in new equipment to keep stores modern and meet the rigorous demands of today’s convenience customers.
Mace Security Sells Texas Car Wash
“We are pleased to announce this sale in our continued progress in exiting the car wash business,” says Mace CEO. Horsham, Pa.-based Mace Security International Inc. has sold a full-service car wash facility and convenience store located in Lubbock, Texas. With the sale of its Lubbock location, the corporation currently has two remaining car washes [...]
Delek US Holdings Reports Q4 and 2010 Results
“As we look to the year ahead, we remain focused on the expansion of our retail footprint through new store construction,” says CEO. Delek US Holdings Inc., a diversified energy company with assets in the petroleum refining, marketing and retail industries, has released the financial results for its fourth quarter and full-year 2010. “During 2010, [...]
Fresh & Easy Enters Bay Area
“Today marks another significant step for our business and we couldn’t be more excited,” says Fresh & Easy CEO. Fresh & Easy Neighborhood Market CEO Tim Mason was joined on March 2 by San Jose City Councilmember Pierluigi Oliverio, civic and neighborhood leaders and hundreds of customers to celebrate the opening of Fresh & Easy’s [...]
Spinx Plans New $3 million Store
“We’re trying to get at least two new stores built before the end of the year,” says Spinx construction superintendent. Spinx Co. plans to construct an estimated $3 million convenience store in Greer, S.C., featuring energy efficient technology and space for future commercial development, Greenville Online reported. The site is planned for 1467 S. State [...]
Casey’s Reports Q3 Results
Q3 earnings were impacted by compressed margins due to a competitive cigarette environment, rising commodity costs and increased operating expenses related to store openings. Casey’s General Stores Inc. has reported $0.34 in basic earnings per share for the third quarter of fiscal 2011 ended Jan. 31, 2011, compared to $0.34 for the same quarter a [...]
Casey’s to Acquire Five QuikTrip Stores
Casey’s General Stores Inc. has signed a definitive purchase agreement to acquire five convenience stores from QuikTrip Corp. The five stores are located in the Springfield, Mo., metropolitan area operating under the QuikTrip banner. The stores are expected to immediately rebranded to Casey’s once the transaction is completed. “Springfield has been a great market for [...]
Lukoil Transfers Ownership of Getty Petroleum Marketing Inc.
On March 1, 2011 Getty Realty Corp. was informed by management of Lukoil North America LLC that Lukoil transferred its interest in its wholly-owned subsidiary, Getty Petroleum Marketing Inc. (Marketing), Getty Realty’s largest tenant, to an unrelated party on Feb. 28, 2011. Getty Realty has commenced a preliminary dialogue with the new management of Marketing. [...]
Fresh & Easy Breaks Ground in South LA
Fresh & Easy aims to provide greater food access and healthier options to the communities where it operates, vice president says. Fresh & Easy Neighborhood Market broke ground on a new commercial office and retail center on the corner of Crenshaw & Jefferson Boulevards in South Los Angeles earlier this month. The 45,000-square-foot West Angeles [...]
Quick Chek Opens New Monroe, N.Y., Store
A grand opening celebration is planned for March 7, when local representatives are expected to gather for a ribbon cutting. Quick Chek, with more than 125 food store locations throughout New Jersey and the New York metro area, is celebrating the grand opening of its newest location in Monroe, N.Y. During the store’s first 13 [...]
Dunkin’ Donuts Seeks Franchisees
“(We’re) looking for qualified candidates with foodservice, operations and real estate experience to join our team,” says Dunkin’ Donuts spokesperson. Dunkin’ Donuts aims to increase its franchise locations in the U.S., and this week announced it is looking for franchisees in Green Bay, Wis., and the surrounding areas of La Crosse and Eau Claire. Dunkin’ [...]
7-Eleven Acquires Illinois Tollway Oases Sites
“This acquisition gives our brand great visibility in Chicagoland,” says 7-Eleven spokesperson. 7-Eleven is taking over the remaining 17 years of a lease agreement for ExxonMobil outlets located on seven Oases sites along the Illinois Tollway. The new agreement with 7-Eleven Inc. of Dallas includes maintenance and operations responsibilities for Mobil fuel stations at the [...]
Casey’s Acquires 11 Stores From NuWay
The acquisition “strengthens our existing market presence in southern Minnesota,” says Casey’s president and CEO. Ankeny, Iowa-based Casey’s General Stores Inc. has signed a definitive purchase agreement to acquire 11 convenience stores from NuWay Cooperative of Trimont, Minn. All of the stores are located in Minnesota operating under the NuMart banner and will be immediately [...]
Kum & Go Acquires Two JC’s Corner Stores
Renovated stores reopen Sat., Feb. 12, in Urbandale and West Des Moines. Kum & Go has acquired two JC’s Corner Stores in central Iowa, which were renovated and reopened on Feb. 12, under the Kum & Go brand. Kum & Go President and CEO Kyle Krause noted that it was extremely important to Kum & [...]
The Pantry Reports Losses
The Pantry rolls out a new coffee program, more fresh food options and a new look for stores to help offset lower profit margins on fuel. Cary, N.C.-based The Pantry Inc. announced a loss of $12.2 million, or 54 cents per share, in its first quarter ended Dec. 30, the News and Observer reported. Last [...]
Sheetz Enters Star City, W.Va.
“This is a tremendous opportunity for our community,” the Star City Mayor says of the new c-store. Sheetz Inc. has the all-clear from the city council of Star City, W.Va., to move forward with plans to build a new Sheetz convenience store on the corner of Monongahela Boulevard and Boyers Avenue—less than a quarter of [...]
