Sam's Mart, LLC

Client & Engagement Overview

• Client is a leading regional operator of convenience stores and fuel supplier in several Southeastern U.S. markets.
• The Company had built and/or acquired 55 stores in the Charlotte, NC market over a 20-year period.
• Operating model was a mix of company-operated locations and dealer-operated locations.
• The Clients objective was to retain control of the underlying real estate, exit the convenience store business and raise cash to deploy to other opportunities.

Challenges

• The need to procure a credit tenant with adequate resources and a desire to expand or enter the Charlotte market.
• Seller had a long-term fuel supply agreement in place that needed to be assumed by buyer.

Outcome

• Our deep knowledge of the sector allowed us to quickly identify a select group of qualified counter-parties.
• Negotiated long-term NNN leases with 7-Eleven, Inc. (AA-) and simultaneously sold the equipment and business operations.
• This transaction marked the re-emergence of 7-Eleven into the Charlotte market after a 30-year absence.