Real Estate Firm Dives into Gas Station Business
ST. LOUIS – Sansone Oil LLC, subsidiary of Sansone Group, a commercial real estate development firm with more than 11 million square feet in retail space nationally, will spend $8 million to build and develop two Mobil On-The-Run stations in the St. Louis area according to a report by the St. Louis Business Journal.
One station will be located in Imperial, and the ground breaking will occur late summer. The other, located at the parent company's $60 million shopping center in Jennings, will start development early in 2007. Both c-stores will include gas and a car wash the report stated.
"We've been talking about doing this for a few years. We're familiar with the concept and thought there was a void in the marketplace." Jim Sansone told the St. Louis Business Journal. "Plus, we're a big family, and this may provide some new opportunities [within the business]."
Sansone expects that Sansone Oil will expand to more locations throughout the Midwest.
Executive director of the Missouri Petroleum Marketers & Convenience Store Association, Ronald Leone, told the St. Louis Business Journal that although profit margins are slim, "Any time you give the customer more of a one-stop shopping experience, you separate yourself from the competitor across the street."
Franchise licenses were provided by Wallis Cos., a gasoline distributor and regional On-The-Run c-store operator, located in Cuba, Mo.
Sansone Group chairman Anthony Sansone Sr., along with Jim Sansone, Tim Sansone, Doug Sansone and Nick Sansone, all principals, will invest in the venture the report stated.
One station will be located in Imperial, and the ground breaking will occur late summer. The other, located at the parent company's $60 million shopping center in Jennings, will start development early in 2007. Both c-stores will include gas and a car wash the report stated.
"We've been talking about doing this for a few years. We're familiar with the concept and thought there was a void in the marketplace." Jim Sansone told the St. Louis Business Journal. "Plus, we're a big family, and this may provide some new opportunities [within the business]."
Sansone expects that Sansone Oil will expand to more locations throughout the Midwest.
Executive director of the Missouri Petroleum Marketers & Convenience Store Association, Ronald Leone, told the St. Louis Business Journal that although profit margins are slim, "Any time you give the customer more of a one-stop shopping experience, you separate yourself from the competitor across the street."
Franchise licenses were provided by Wallis Cos., a gasoline distributor and regional On-The-Run c-store operator, located in Cuba, Mo.
Sansone Group chairman Anthony Sansone Sr., along with Jim Sansone, Tim Sansone, Doug Sansone and Nick Sansone, all principals, will invest in the venture the report stated.