Six Former North Texas Quik-Way Gas Station/Convenience Stores Sold
Trigild, Annandale Real Estate Team up in $3.5 Million Sale.
- San Diego, CA (1888PressRelease) November 15, 2012 - San Diego-based Trigild Inc., working with Dallas-based Annandale Real Estate, has closed on the sale of six North Texas gas station/convenience stores in a transaction valued at more than $3.5 million.
Trigild, which specializes in management and receivership of commercial real estate assets and operating businesses, was appointed receiver of the former Quik-Way C-Stores in late 2011. The company facilitated the sale with Annandale, which auctioned the properties on June 28, 2012.
Gary Aharonian, Trigild's vice president of petroleum properties, said the stores were sold to two groups; one of the groups purchased two of the properties and the other purchased four. Four of the stores, in Sherman, Denison and Howe were Chevron branded; the others in Denison and Bonham, were Shell-branded - all have full convenience store operations. The properties range in size from 1,800- to 4,500-square-feet and are situated on 1/2-acre to 3/4-acre parcels. The buyers of the properties were local operators and will continue to run the properties.
When the portfolio was placed in receivership, Trigild took over as both manager and receiver to protect the assets and prepare them for a quick sale. As part of the process, Trigild staff liquidated inventory and equipment at the lease-hold locations valued in excess of $250,000.
"When petroleum properties like these enter receivership, it is critical to assure the assets are handled properly so that prospective buyers can move forward quickly and efficiently once the purchase is closed," Aharonian said, noting that the process was completed in six months.
About Trigild
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 35 years of property management, receivership/bankruptcy and consulting expertise, with a focus on managing and maximizing value for assets in an array of industries, including hospitality, multifamily, office, industrial, retail, petroleum properties and more. For further information, visit www.trigild.com
About Annandale Real Estate
Annandale Real Estate (www.annandaleco.com) is a privately owned commercial real estate and advisory company that specializes in small format real estate. Additionally, its subsidiary, National Petroleum Consulting Group is a leading provider of consulting and advisor services for lenders with distressed petroleum properties. Based in Dallas, Texas, Annandale's veteran management team has decades of experience redeveloping and repositioning projects, including design, engineering construction, financial analysis, project leasing and project disposition. For more information, visit www.annandaleco.com.
Media Contact: Sydnie Moore (619) 823-8448 moore2com ( @ ) gmail dot com
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