The Canadian company that owns the giant Valley-based convenience store chain Circle K Stores Inc. is selling off hundreds of locations, including 17 in Arizona.
Alimentation Couche-Tard Inc. announced on March 22 that the company would be putting a total of 306 locations up for sale. Circle K will be selling 269 sites across 29 states in the U.S. and 37 across six provinces in Canada.
“The decision to divest select stores fits within the company's network optimization strategy and follows a comprehensive and uniform network planning process that began in the fall of 2020,” Brian Hannasch, the president and CEO of Couche-Tard, said in a statement. “Through this process, we have identified sites that no longer fit our strategic objectives, either from a brand perspective or from a regional scale perspective.”
The average building size of the stores for sale is about 2,600 square feet and they are on an average lot size of 29,500 square feet. Of that 306 stores, a total of 17 are being sold in Arizona, according to Evan Gladstone, the managing partner of NRC Realty & Capital Advisors LLC, which has been brought on to manage the sale of the convenience stores.