Sunoco bought 48 gas stations and convenience stores in New York as part of its expansion initiative.
The Sunoco Retail division of Sunoco LP acquired the properties from Capitol Petroleum Group, according to trade publication CSP Daily News, citing a statement from a brokerage that worked on the deal. The brokerage, Petroleum Capital and Real Estate, as well as Sunoco and Capitol Petroleum Group, did not respond to CoStar News' requests for comment.
Sunoco has completed at least two other acquisitions this year, according to media reports. It acquired 56 Duck Thru Food Stores from parent company Jernigan Oil last month and 36 stores from Pops Mart Fuel in January. The addresses and locations of the sold properties were not disclosed.
Sunoco also completed a large deal last year with its $9.1 billion acquisition of Parkland, which owned about 4,000 convenience stores and an oil refinery.
In Sunoco's latest deal, it acquired a collection of gas stations and convenience stores that operate under the Shell, Exxon, Mobil and Citgo brands.
At the end of last year and before its three recent acquisitions, Sunoco owned 732 gas stations and convenience stores in the United States and leased an additional 605 locations, according to its annual report. Sunoco, based in Dallas, also operates about 14,000 miles of oil pipelines and about 160 fuel terminals. Sunoco also owns and operates an oil refinery in Burnaby, British Columbia.
Capitol Petroleum Group, based in Springfield, Virginia, will continue to own about 35 Shell-branded locations in New York and hundreds of gas stations in greater Washington, D.C., CSP Daily News said.