UPDATE: Sinclair Oil Nears End of Retail Business

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UPDATE: Sinclair Oil Nears End of Retail Business

Updated to include store site list provided by The Energy Exchange.

CHICAGO -- Sinclair Oil Corp., which revealed earlier this year that it would exit the retail fuel business and sell its chain of 90 company-operated convenience stores, retained The Energy Exchange, based here, to manage the sale of 29 Sinclair branded stations throughout six states -- Colorado, Iowa, Minnesota, Montana, Oklahoma and Nebraska.

Of the locations, 26 will be offered with real estate, while three are leased locations. The stations are being offered with a 10-year Sinclair branding and fuel supply agreement; without supply; or for alternative use with a petroleum deed restriction. Bidders may bid on one, some, or all of the stores, and the sale deadline is Dec. 15, 2009.

"We have already sold approximately 60 locations to and through our jobber network, and this current offering aligns us with our company goal to get out of the retail business entirely by early next year," Bud Blackmore, senior vice president of marketing and supply for Sinclair Oil, said in the statement.

Stores for sale include:
-- 2105 North Federal Blvd., Denver
-- 1895 East Colfax, Denver
-- 8275 East Colfax, Denver
-- 15495 West Colfax, Golden Colo.
-- 601 12th Street, Golden, Colo.
-- 2375 Canyon Blvd., Boulder, Colo.
-- 201 Manitou Avenue, Manitou Springs, Colo.
-- 527 North Hwy. 36, Byers, Colo.
-- 4513 Highway 63, Atwood, Colo.
-- 731 S. Riverside Drive, Iowa City, Iowa
-- 2153 Act Circle, Iowa City, Iowa
-- 1305 North 25th Street, Council Bluffs, Iowa
-- 4218 Morningside Ave., Sioux City, Iowa
-- 223 E. Larpenteur, Maplewood, Minn.
-- 2158 Rice Street, Maplewood, Minn
-- 2520 N. Ferry Street, Anoka, Minn.
-- 175 Century Ave. North, Woodbury, Minn.
-- 1815 Diffle Road, Eagan, Minn.
-- 125 McKinly Street North, Cambridge, Minn.
-- 1025 6th Street, Howard Lake, Minn.
-- 620 57th Street South, Maplewood, Mont.
-- 2941 North West 48th Street, Lincoln, Neb.
-- 1008 West Mission, Bellevue, Neb.
-- 1009 West Mission, Bellevue, Neb.
-- 8307 Parkview Boulevard, Lavista, Neb.
-- 8242 Maple Street, Omaha, Neb.
-- 2801 NW 48th Street, Lincoln, Neb.
-- 10712 East 81st Street, Tulsa, Okla.
-- 16141 East Skelly Drive, Tulsa, Okla.
-- 828 North Elm, Broker Arrow, Okla.
-- 3538 Highway 20 W, Salina, Okla.

CSNews Online first reported Sinclair Oil's plans to exit the retail business in early August. The company has gradually reduced the number of company-owned retail convenience stores over the past decade, and the majority of the company's fuel sales were at the wholesale level to independent petroleum distributors and marketers, CSNews Online reported at the time.

The action does not affect the 2,700 Sinclair-branded service stations that are owned by independent petroleum marketers, the company stated earlier this year.

"This sale is a great opportunity for an owner/operator to walk into an established business with a strong brand to support them," Phil Boyd, managing director of Energy Exchange, said in a statement. "These stations are on great corners and the right operators with vision can take them to next level. We expect this sale to generate a high level of interest from prospective operators due to fact that many of the locations have large convenience stores with car washes."

More information on the sale is available by calling The Energy Exchange at (866) 906-7499.

Related News:

Sinclair Oil Confirms C-store Sale