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Auctions Rev Up Gas Station Sales

MIAMI-Automated Petroleum looks to dispose of 78 Florida properties under sealed bids.

By Eric Kalis | Updated on June 15, 2009

(This story, in slightly different form, originally appeared in Incisive Media’s Daily Business Review.)

MIAMI-Automated Petroleum & Energy, one of the Southeast’s largest gasoline distributors, is looking to sell 78 gas station and convenience properties in 46 Florida cities through a private auction. The Brandon-based company, which owns 247 stations and expects to distribute 360 million gallons of gas this year, will take sealed bids for the sites until July 28.

The Energy Exchange of Chicago and PetroProperties & Finance of Coral Gables are coordinating the auction. Bidders are required to sign a 20-year fuel supply agreement or declare alternate uses for the sites.

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