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Circle K Properties For Sale

 



Interested in Purchasing a Circle K Property for Investment?

 

If you wish to purchase a Circle K property for investment, please email info@nnndeals.com;  We have access to an extensive inventory of triple net lease Chili's properties for sale in Washington DC, Maryland, Virginia and the entire United States.

 

 

circle k

 

 
Price: 

$3M - $10M


Lease Term
:


15 – 20 Years


Increases:
 
10% Every 5 years 
Lease Extensions: 20 – 40 Years  

Lease Type
:
Absolute NNN Lease 

Lease
Guarantee: 

Corporate
CAP Rate Ranges:
6.5% – 7.50%
Name Circle K 
Wholly owned subsidiary
Industry Retail (Convenience stores)
Founded El Paso, Texas(1951)
Headquarters Tempe, Arizona,U.S.
Number of locations 
10,000+
Area served 
United States, Canada, Guam, Japan, China, Hong Kong, Macau, Vietnam, Indonesia, Philippines, Malaysia, United Arab Emirates, Costa Rica, Honduras and Mexico
Parent Alimentation Couche-Tard
Website www.circlek.com USA/Canada[1]
 

About Circle K :

 

Circle K is an international chain of convenience stores , founded in 1951, in El Paso, Texas, United States. It is owned and operated by the Canadian -based Alimentation Couche-Tard . It is the owner of the Mexican stores "Tiendas Extra" created by Modelo Group.

 

Since the 1980s, Circle K has been the largest company-owned convenience-store chain (i.e. of non-franchised stores) in the U.S.[2][3]It was second in overall number of U.S. stores to7-Eleven.[2]However by 1989, it faced strong competition from convenience stores owned by oil companies, and Circle K declaredbankruptcyin 1990.[2]By July 2010, Circle K had dropped to fourth rank in number of stores (3,455), then behind BP(4,730 stores) and Shell(4,630 convenience stores).[3]

Some Circle K stores operate gasoline pumps selling Union 76-branded motor fuels; others sell Mobil, Marathon, Phillips 66, Irving, BP, Sunocoor Shell-branded fuel. Until mid-2006, nearly all Circle K stores in South Texas sold Citgo-branded fuel; however, those stores have dropped the Circle K name and now operate as Stripes Convenience Stores and are served by Valero-branded fuel. Circle K stores in northeast Ohio vary depending upon what stores they used to be: the majority are former Citgo/Holland Oil,[4] whose gas is branded as Circle K; others are remnants of the Lawson's/Dairy Martchain, which sell gas from other companies (most of them served Marathon Gasoline). Some locations, especially older outlets in the company's core markets of the American Southwest, do not sell gasoline.

 

The chain operates internationally, branching into Mexico and continents such asAsia. In Hong Kong the store is calledOKin reference to the circle around the K. Circle K Hong Kong was founded in 1985 by Li & Fung Retailing (later Fung Retailing) as licensee of the name and now part of Convenience Retail Asia Limited.[5]Circle K currently has 349 locations throughout Hong Kong.

 

Circle K was previously in the United Kingdom,Canada, Australia, and New Zealand, acting as the food-store portions of many Shell stations. The Circle K brand re-entered the Canadian market in 2008, in connection with Couche-Tard's acquisition of Irving Oil's convenience store network, as discussed below.

The chain is primarily located in the Southern, Western, Southwestern, and Midwestern United States. In recent years, the company has acquired the 90-store Spectrum chain serving Georgia and Alabama,[6]the CFM chain in Missouri, 35 Sterling Dairy locations in Northwest Ohio, and 26 stores under various brands from Chico Enterprises of Morgantown, West Virginia.[7]This all came after the 2005 rebranding of the various Couche-Tard stores (Mac's, Bigfoot, Dairy Mart, and Handy Andy) under the more nationally known Circle K brand.

Circle K started to appear on Long Island in New York in 2013 with a store inLong Beach.

 

Entrepreneur Fred Hervey purchased three Kay's Food Stores in El Paso, Texas, in 1951. Hervey renamed the stores as "Circle K Food Stores, Inc." rather than "Kay". He grew the Circle K chain into neighboring New Mexico and Arizona, which has been the company's home base since 1957 (Hervey would go on to serve two terms as mayor of El Paso).

 

According to the Circle K website, Circle K grew its retail network through a series of acquisitions conducted during the next few decades, which were incorporated into the Circle K brand. By 1975, there were 1,000 Circle K stores across the US. In 1979, Circle K entered the international market when a licensing agreement established the first Circle K stores in Japan; Circle K stores in Japan are run by the Circle K SunkusCorporation, which licenses the Circle K brand from Alimentation Couche-Tard. In 1983, the number of stores increased to 2,180 with the purchase of the 960-store UtoteM chain.

 

The Thirst Buster fountain drink was introduced in 1983. It is one of Circle K's flagship products today. Now known as "Polar Pop" in many areas, Circle K advertises that customers can buy any size for just a single price. The Polar Pop brand is also used at Couche-Tard-branded stores.

 

Karl Eller, a prominent Phoenix businessman, served as the company's CEO from 1983 to 1990. During that time, Eller built Circle K into the second largest convenience store operation and the largest publicly owned convenience store chain in the U.S. with 4,631 stores in 32 states and an additional 1,300 or so licensed or joint venture stores in 13 foreign countries. Under Eller's leadership, the company grew from annual sales of $747 million to over $3 billion.

 

In 1988, the company sent a letter to its over 8,000 employees announcing that it will cut off the medical coverage of those who become sick or injured as a result of AIDS, alcohol, drug abuse or self-inflicted wounds. The company stated thatThere are certain lifestyle decisions that we are just not going to assure the results of.[8]

Fortunes declined in the late 1980s as the US economy began to slow down, and Circle K filed forChapter 11bankruptcyprotection in May 1990; Eller resigned as CEO. Some underperforming locations were sold or closed. In 1993 the company was purchased byInvestcorp, an international investment group, and emerged from bankruptcy.

In 1996, Circle K was acquired by Tosco Corporation, an independent petroleum refiner and marketer, but kept its headquarters in Phoenix. Tosco was purchased in 2001 by Phillips Petroleum, which in 2002 merged with Conoco to form ConocoPhillips. In 2003, Circle K was purchased by Alimentation Couche-Tard (a large convenience store operator based in the Montreal area) for US$804 million.

In 2005, Taiwan's OK Convenience Store chain terminated its franchise agreement with Circle K.[9]

In mid-2006, Alimentation Couche-Tard entered into a franchising agreement with ConocoPhillips to brand some of its company-owned stores as Circle K, in the western portion of the US. ConocoPhillips remodeled the stores into the Circle K scheme but continued to operate them. The stores continued to have the new ConocoPhillips unified canopy design and ProClean gasolines. These stores were spun off as Phillips 66 in May 2012.

 

Another oil company, Canada-based Irving Oil, leased out its convenience stores operating under the Bluecanoe and Mainway banners in the United States and Atlantic Canada to Couche-Tard, which rebranded the locations to Circle K in July 2008, while still selling Irving-branded fuel. However, the Mainways in New foundland and Labrador did not change until summer 2010. The parties had earlier formed a similar partnership in Quebec, with the stores there operated as Couche-Tard.

In April 2009, ExxonMobil sold 43 Phoenix, Arizona stores to parent company Couche-Tard as part of a sale of the larger On the Run franchise. These 43 stores are to be rebranded under the Circle K name.[10]

 

On February 10, 2014 Modelo Group Sold the Tiendas Extra brand of stores to the Mexican franchise of Circle K, Circulo K.

In July 2010, Circle K had dropped down to fourth rank in number of stores (3,455), behind 7-Eleven (6,523 stores), BP (4,730 stores) and Shell (4,630 convenience stores) in 2010.[3]

 

On December 18, 2014; Quebec based Alimentation Couche-Tard, the parent company of Circle K, has announced its acquisition of "The Pantry, Inc." for $860 million all cash tender. The acquisition is expected to close in March 2015.Alimentation Couche-Tard operates more than 10,000 stores in the USA and multiple countries under the Circle K banner. The newly combined company will increase Couche-Tard's presence in the Southeast and Gulf Coast. Following the closing, all 1537 Kangaroo Express stores are expected to be rebranded under the Circle K banner.  [11]

On August 12, 2015 Circle K will open its first five convenience stores in Costa Rica, Central America after having bought and rebranded the local convenience store chain Delimart.

 

Circle K Properties For Sale Across the United States :

 

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky,  Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey,  New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma,  Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands,  Washington, West Virginia,  Wisconsin,  Wyoming 

 

 

 

 

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