Alimentation Couche-Tard (ACT), the parent company of Circle K, is looking to sell 36 c-store sites across 14 states, reported Mass Market Retailers. ACT said the locations “no longer fit with Couche-Tard’s brand and market strategy.”
A Couche-Tard spokesperson noted that the company “routinely evaluates its real estate portfolio as part of efforts to optimize the store network.”
“Of the stores, 20 are owned and 16 are leased. Advisory firm NRC Realty & Capital Advisors LLC has been engaged to coordinate and manage the sale process. The NRC stated that the stores vary in size, with some reaching up to 4,000 square feet and an average lot size of 25,000 square feet. Twenty-three sites sell fuel, while the rest are convenience stores only,” wrote the outlet.
“There are multiple stores in Arizona, Florida, Illinois, Indiana, Montana, North Carolina, Ohio, Pennsylvania and Texas, with single stores in Alabama, California, Michigan, Tennessee and Virginia,” said Evan Gladstone, NRC’s executive managing director. “We have some good sites in this offering which will be of interest to individual operators and smaller companies.”
The properties are being offered without a fuel supply or Circle K branding. The bid deadline is December 4.
In June of this year, ACT received clearance from the U.S. Federal Trade Commission (FTC) to proceed with its acquisition of GetGo Café + Market (GetGo) from Giant Eagle Inc. As part of the deal, the company agreed to sell 35 sites, including 34 Circle K locations and one GetGo property, to a buyer approved by the FTC.