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(Carl Cronan is editor of Real Estate Florida.)

FORT LAUDERDALE, FL-The local office of Marcus & Millichap Real Estate Investment Services is marketing a portfolio of 67 service stations and convenience stores around the country that are currently owned by Davie-based General Energy Corp. The asking price of the properties, about half of which are in operation, is $49 million.

The entire portfolio is broken down into seven smaller sub-portfolios based on the properties’ locations along distribution routes, Marcus & Millichap says. They include 15 locations in Florida, 14 in Georgia, 10 in Tennessee, three in Virginia, 10 in Minnesota and Wisconsin, seven in Ohio, and eight in Pennsylvania and West Virginia.

“The portfolio presents a dealer or distributor with the unique opportunity to acquire service stations with distribution and licensing already in place,” says Ronnie Issenberg, a retail and land specialist with Marcus & Millichap’s Miami office. Issenberg is working with Adam Kristol, an investment specialist with the firm’s Fort Lauderdale office, in representing General Energy.

“Changes in retailing favoring higher margin, non-fuel items have created opportunities for experienced convenience-store operators to acquire and redevelop these high traffic, infill locations,” Kristol says. He adds that the properties are also available for sale separately.

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