Sinclair Selling Outlets

Sinclair Oil Corp. is exiting the retail gasoline market and looking to sell four northeast Oklahoma sites.
The Salt Lake City-based energy company has been unloading 90 sites in Oklahoma and five other states over the past few months, said Phil Boyd, managing director of the Energy Exchange, which is coordinating the offer for Sinclair through a sealed bid auction Dec. 15. The Energy Exchange part of Keller Williams.
Sinclair made an offer within the company for its distribution and dealer networks and was able to transfer ownership of a majority of its sites. Now, the privately owned oil company, which announced the sale of its Tulsa refinery in October to Holly Corp., is using an auction to find buyers for the remaining Oklahoma properties.
“It has been proven that these stations can be run better with an owner/operator or by a retail company that does nothing but gasoline-convenience stores,” Boyd said.
Three Tulsa locations are 10712 E. 81st St., 16141 E. Skelly Drive and at 828 N. Elm Place in Broken Arrow. The 81st Street location, at 81st Street and U.S. 169, is 50,000 SF and reports $1.5 million in gasoline sales annually, Boyd said. “It pumps 100,000 gallons a month.”
The Skelly Drive location is a truck stop that sold 7.3 million gallons in 2008. Merchandise sales last year at that location were $991,593, according to the brochure announcing the auction. The Broken Arrow location sold 562,045 gallons and had sales of $417,984 last year, according to the brochure.
A store up for sale, a 169,000 SF operation in Salina, reported $810,000 in sales and sold more than 943,000 gallons of gasoline.
The move by Sinclair is part of a industrywide trend by the majors to exit the retail business.
“They have decided to shed the liability of running a convenience store,” Boyd said.

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