CHICAGO—Circle K is planning to sell 109 Circle K and Couche-Tard sites in the United States and Canada, according to a news release.
The sale includes 31 sites across three provinces in Canada and 78 sites across 19 states in the U.S., with an average store size of 2,209 square feet and an average lot size of 28,214 square feet. Of the 109 sites, 42 are fee-owned, 65 are leased and two are fee and leased, while 61 properties sell fuel and 48 are convenience only.
NRC Realty & Capital Advisors have been tapped to coordinate and manage the sale of the stores. NRC offered and sold 260 sites for Alimentation Couche-Tard in 2021.
“We are excited to assist Circle K again,” said Evan Gladstone, NRC’s executive managing director. “These stores are being sold in NRC’s well-known ‘buy one, some or all’ format, and NRC expects great interest from individual retailers and small companies. Many smaller retailers have had challenges competing with the large buyers over the past several years, and this sale is a terrific opportunity for them to grow their businesses.”
The bid deadline is July 7.
In 2021, Majors Management acquired 69 convenience store locations from Circle K. The sites were in Alabama, Florida, Louisiana, North Carolina, South Carolina and Virginia. The acquisition extended Majors’ footprint into Virginia and the Southeast. The company planned to convert 34 of the sites to franchised Kangaroo Express locations.
Also in 2021, Casey’s agreed to acquire 49 stores in Oklahoma from Circle K in a $39 million cash deal. The acquisition included 46 leased properties and three owned properties.