Gas Station Brands & NNN Tenants
Buyers ask for brands by name, and the brand on the canopy changes the deal in ways a cap rate never shows. What supply term is left, who the wholesaler is, what image capital is due, and whether the mark travels with the sale at all.
These pages cover what is specific about each one. They are written brand by brand rather than templated, because the honest answer for Shell is not the honest answer for CITGO — and neither resembles a corporate net lease to Circle K.
Fuel brands
The refiner does not run the store. Independent operators and branded wholesalers fly these marks under supply agreements — so buying one means buying a business and a contract along with the corner.
Shell
4 activeShell plc
Shell sites →Chevron
5 activeChevron Corporation
Chevron sites →Texaco
1 activeChevron Corporation
Texaco sites →Exxon
3 activeExxon Mobil Corporation
Exxon sites →Mobil
2 activeExxon Mobil Corporation
Mobil sites →BP
1 activeBP p.l.c.
BP sites →Amoco
1 activeBP p.l.c.
Amoco sites →Sunoco
2 activeSunoco LP
Sunoco sites →CITGO
1 activeCITGO Petroleum Corporation
CITGO sites →Marathon
Marathon Petroleum Corporation
Marathon sites →76
1 activePhillips 66
76 sites →Corporate c-store tenants
A different asset entirely. These companies operate stores and sign leases, so the buyer is a landlord pricing a covenant and a term rather than an operator pricing gallons.
Circle K
Alimentation Couche-Tard Inc.
Circle K net lease →7-Eleven
Seven & i Holdings Co., Ltd.
7-Eleven net lease →All brand names and marks on these pages belong to their respective owners and are used to identify the properties and asset types we broker. STAX Real Estate is an independent brokerage and is not affiliated with, endorsed by, or an agent of any brand named here.
Looking for a specific brand?
Much of what we transact never reaches a public marketplace. Tell us the brand, the market and the size you are looking for, and we will work it directly.
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