Alimentation Couche-Tard is selling 49 sites in Oklahoma to Casey's General Stores Inc. for $39 million in an all-cash transaction.
Included in the transaction are 46 leased and three owned properties. The deal is expected to close by July 31, 2021. Matrix Capital Markets Group was the financial advisor to Couche-Tard on the transaction.
In addition, Alimentation Couche-Tard has retained a real estate advisory firm to coordinate the sale of 306 sites, including 269 sites across 25 states in the US and 37 sites across six provinces in Canada. The average store size is approximately 2,600 square feet, and the average lot size is 29,500 square feet. Of the 306 sites, 122 are fee-owned and 184 are leased, while 238 properties sell fuel and 68 are convenience only. Expressions of interest are due in early May.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
