8700 Wooster Pike Rd
Seville, OH 44273

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to market for sale Circle K in Seville, Ohio. The subject property is a 7,200-square-foot all-brick convenient store with a 20-pump canopied gas station built in 2003 and situated on 1.54 acres. Circle K is leased to absolute net terms through December 2028, providing the prospective purchaser with 10.25 years of remaining lease term. As an absolute net lease, there are zero landlord responsibilities. Circle K is subject to 1.5 percent annual rent increases, providing a strong inflation hedge and significant income growth over the hold period. As a convenience store with a gas station, the property may be depreciated on an accelerated 15-year schedule, providing greater annual cash flow to the prospective purchaser versus most other non-gas station assets that must be depreciated over 39 years. The property carries a both a corporate guarantee from parent company Alimentation Couche- Tard Inc. and a subsidiary guarantee from Mac’s Convenience Stores LLC, a business unit of Couche-Tard. Couche-Tard is one of the largest convenience and gas retailers in the world with 16,000 locations in North America and Europe, including 7,800 locations throughout 48 states. Couche-Tard is publicly traded on the Toronto Stock Exchange (ATD-A) with a current market capitalization of $37.7 billion, and carries Moody’s “Baa2” investment grade credit with a stable outlook. In fiscal year 2018, Couche-Tard reported sales of $51.39 billion. Circle K is located along Wooster Pike/Route 3 which sees 10,480 cars per day. Ohio State Route 3 is the primary north-south thoroughfare in Medina County, and is the second longest state route in Ohio, connecting Cleveland, Columbus, and Cincinnati, as well as numerous smaller cities in between. Importantly, the subject property is just 0.1-mile north of Interstate 76 which sees 38,521 cars per day, and is a major east-west highway in the region connecting Akron to Interstate 71. Circle K benefits from substantial consumer, tractor trailer, other commercial vehicle traffic at this location given the proximity to the highway exit and surrounding hotels, restaurants, warehouses, and manufacturing facilities. National brands in the immediate proximity include Hardee’s, Dairy Queen, Subway, Quality Inn & Suites, Hawthorne Suites, Huddle House, Shell, Schneider National, and Dollar General. Demographics in the surrounding area are stable and mature with 20,519 residents within five miles and 123,091 residents within ten miles. Average household income exceeds $93,000 within a five mile radius. Seville is located within Medina County and is part of the Cleveland MSA, which is home to a population of 2.1 million, and is within the larger Cleveland-Akron-Canton CSA with a population of 3.5 million.