Speedstop Gas & Goods Acquires Minnesota Mall

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Speedstop Gas & Goods Acquires Minnesota Mall

ST. CLOUD, Minn. -- Speedstop Gas & Goods, owned by parent company J.M. Oil Co. based here, purchased the Oasis Mall in Pequot Lakes, Minn., last month, the company's first acquisition that is not a c-store or gas station, according to the St. Cloud Times.

The company also acquired a BP convenience store, Oasis Sports Shop, and renamed it Speedstop Pequot Lakes.

The owner of the Sport Shop owned the mall, which provides Speedstop a unique opportunity to buy the property, said Brian Laudenbach, general manager of J.M. Oil.

The mall houses nine tenants, including a family restaurant, a liquor store, a Cellular One store, two beauty salons, a gift shop, a fast-cash business and a Laundromat, the report stated. However, the company plans to relocate the Laundromat and double the size of the convenience store to 3,000 square feet, bringing its total store count to 13.

The expansion is expected to take place over the next four months, according to the report. The company also plans to add a sandwich shop and expand its live bait and fishing lines in the store, Laudenbach said.

The store currently employs seven people, but plans to hire about five more when the expansion is complete.