Stinker Stores to Divest 13 Sites in Colorado
BOISE, Idaho — Stinker Stores is selling 13 convenience stores in Colorado as part of the its portfolio optimization efforts.
This strategic divestiture, according to Stinker Stores, reflects the company's commitment to optimizing its retail footprint, reallocating resources to other markets and reinforcing its competitive position in the convenience retail sector.
The chain expanded its presence within the Mountain West region entering Colorado in 2017 via acquisition, which included the 13 sites being divested. Since taking over operations, Stinker Stores has made significant improvements, renovations and capital expenditures to integrate these sites into its network of retail assets.
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"Stinker Stores is determined to be the leader in our trade areas utilizing our latest store format, serving this and the next generation of food and convenience customers in the Rocky Mountains," said Nancy Jones, chairman of Stinker Stores. "Project Polecat will support this strategic effort and continue to provide significant growth opportunities for our retail leaders across our network."
The chain signed a listing agreement with Corner Realty LLC to sell the fee property c-store locations. The sites will be available to purchase one, some or all, and will be available with open fuel supply. Properties will also be marketed outside of the convenience store industry.
The for-sale sites went on the market March 31 with offers due by April 30. Buyers may determine fuel supply at their discretion as part of the purchase. Sales of the stores will be completed by the end of August.
The sale presents a compelling investment opportunity for operators, fuel distributors, developers and investors looking to capitalize on well-positioned convenience retail assets throughout Colorado, Corner Realty said.
Founded in 1936, Boise-based Stinker Stores employs approximately 1,500 people throughout 110 locations in Colorado, Idaho and Wyoming.