Global Partners Puts More Northeast Sites Up for Sale
WALTHAM, Mass. — Global Partners LP has hung a for-sale sign on 19 non-strategic retail locations in five northeastern states.
The Waltham-based company retained NRC Realty & Capital Advisors LLC to coordinate the third-party. Of the sites on the sales block, seven are in Massachusetts, six in Connecticut, and the remaining balance are in Maine, New Hampshire and Rhode Island.
They are part of a larger group of non-strategic retail locations Global is divesting.
According to NRC, the average lot size is 28,000 square feet. The average building size is 1,950 square feet with buildings ranging from kiosks to locations of more than 4,700 square feet. Of the 19 sites, 12 are fee-owned properties and seven are leaseholds.
"Global Partners LP is offering these attractive sites with long-term fuel supply, but will also consider selling without supply," said Evan Gladstone, executive managing director of NRC.
The properties will be sold using NRC's "buy one, some or all" sealed-bid sale process. The bid deadline is Oct. 5.
Global Partners is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. With approximately 1,500 locations, primarily in the Northeast, Global is one of the largest regional independent owners, suppliers and operators of gasoline stations and convenience stores.