Casey’s to acquire Texas-based C-store chain CEFCO in $1.1 billion deal Casey's General Stores Inc. is expanding its network by acquiring Fikes Wholesale Inc., the parent company of CEFCO Convenience Stores, in an all-cash transaction valued at $1.145 billion. With tax benefits of approximately $165 million, the net after-tax purchase price is $980 million. This acquisition adds 198 retail stores and a dealer network, increasing Casey's footprint to nearly 2,900 stores and significantly boosting its presence in Texas with 148 additional stores, plus 50 more across Alabama, Florida, and Mississippi. This move aligns with Casey's strategic plan to accelerate unit growth and achieve top-quintile EBITDA growth, as outlined by CEO Darren Rebelez during their Investor Day presentation in June 2023. "One of the core pillars of the plan is to grow the number of units," said Rebelez. "This acquisition will allow Casey's to accelerate our unit growth plan with high-quality assets and provide an expanded presence in Texas and the region." The transaction is expected to close in the fourth quarter of 2024, pending customary closing conditions and regulatory approval. Jake Stammen 📞 (972) 755-5209 ✉️ Jake.Stammen@marcusmillichap.com Salim Bhaidani 📞 (817) 932-6136 ✉️Salim.Bhaidani@marcusmillichap.com 👉 Click link for details: https://lnkd.in/g4Y8AtGW #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #caseys #gasstation #CEFCO
Knipp Wolf Net Lease Group
Real Estate
Dallas, Texas 1,108 followers
More than $1 billion closed in net lease transactions across the U.S.
About us
The Knipp Wolf Net Lease Group of Marcus & Millichap's Dallas office specializes in net lease investment sales across the United States. The Knipp Wolf Net Lease Group has been the #1 Net Lease Group in Texas and consistently ranks in the Top 10 Nationally within Marcus & Millichap's National Retail Group. We take a genuine interest in understanding each client's specific goals and objectives, which has led to our reputation as one of the industry's top advisors. We can meet a wide range of clients' needs, with a long list of repeat clients, ranging from small private investors to some of the largest developers and investment funds in the country.
- Website
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https://linktr.ee/knippwolfnetleasegroup
External link for Knipp Wolf Net Lease Group
- Industry
- Real Estate
- Company size
- 2-10 employees
- Headquarters
- Dallas, Texas
- Type
- Partnership
- Founded
- 2007
- Specialties
- net lease, retail, single tenant, passive income, advisors, investments, and commercial real estate
Locations
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Primary
5001 Spring Valley Rd 100W
Dallas, Texas 75244, US
Employees at Knipp Wolf Net Lease Group
Updates
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As the latest bank earnings season comes to a close, several key trends have emerged from the banking sector, painting a vivid picture of an industry in transition. Here’s what you need to know about the latest bank earnings. 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀: Across the industry, banks are grappling with a decline in deposits while facing rising deposit costs. This double-edged sword is putting pressure on net profits. 𝗚𝗿𝗼𝘄𝘁𝗵 𝗶𝗻 𝗙𝗲𝗲 𝗜𝗻𝗰𝗼𝗺𝗲: Despite the challenges with net interest income (NII), many firms are witnessing significant growth in fee income from wealth management, mergers and acquisitions, and consulting services. 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀: The adoption of online banking is accelerating, with customers increasingly engaging with virtual and AI-powered assistants. The use of third-party money transfer applications like Zelle has further fueled the digital transformation of banking, offering customers more convenience and flexibility in managing their finances. For more banking news and insights, reach out to Ryan Wolf or Luke Sullivan. Ryan Wolf 📞 (972) 755-5207 📧 Ryan.Wolf@marcusmillichap.com Luke Sullivan 📞 (972) 755-5198 📧 Luke.Sullivan@marcusmillichap.com #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #banking
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Update: Map of Conn's HomePlus Closures 👉Google Maps Link: https://lnkd.in/g9jzmUk3 Conn's Inc. has filed for Chapter 11 bankruptcy protection and announced the closure of over 70 out of its 130 HomePlus stores across 13 states. Florida will experience the most closures, with 18 stores shutting down, followed by Texas, which will see 13 closures. In its Chapter 11 filing, Conn’s Inc. reported estimated assets ranging from $1 billion to $10 billion, with liabilities in the same range. The company also disclosed having approximately 25,000 to 50,000 creditors. Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com
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Just Listed: Murphy USA | $2,546,000 | 20-Year Ground Lease | El Paso, TX - New 20-Year Ground Lease With 8% Rental Escalations Every Five Years - Signalized Hard Corner Location on North Loop Drive and Nuevo Hueco Tanks Road (48,565 VPD) - Next to Rancho Del Rey Logistics Park, a New 3.7 Million Square Foot Industrial Park on 235 Acres - Large 1.62 Acre Parcel With Space for Expansion to Accommodate an Additional High-Flow Diesel Bay 👉 Click link for details https://lnkd.in/ggXFeQJp Contact Vincent Knipp or Jake Stammen for more information. 📞 (972) 755-5205 Vincent.Knipp@marcusmillichap.com 📞 (972) 755-5209 Jake.Stammen@marcusmillichap.com #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #murphyusa #elpaso #texas
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Conn's faces possible mass store closures, bankruptcy Conn's, a Texas-based furniture and appliance store, is reportedly considering closing 100 stores across the U.S. amid significant losses over the past three years. This would represent nearly 20% of its footprint and over 40% of the stores it directly controls. The company operates more than 550 locations (378 of which are dealer-owned). While plans are not yet final and no official list has been released, local news sources have reported "going out of business" signs at several locations, including: Arizona - 5530 E Broadway Blvd, Tucson Louisiana - 3437 Masonic Dr, Alexandria -10780 N Mall Dr, Baton Rouge - 2424 Manhattan Blvd, Harvey - 1779 Martin Luther King Blvd #400, Houma - 3316 Ambassador Caffery Pkwy, Lafayette - 3650 Millhaven Rd, Monroe - 150 Northshore Blvd, Slidell - 7081 Youree Dr, Shreveport Texas 3915-A Kell E Blvd, Wichita Falls Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com 👉 Click link for details: https://lnkd.in/gDfWf4Jd #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #conns #bankruptcy
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Darden Restaurants to Acquire Chuy’s for $605 Million: Does It Fill a Hole in Their Portfolio? - Darden lacks a Mexican restaurant in its portfolio, one of the fastest-growing dining segments. - Chuy’s is a well-established full-service operator in the category. - Chuy's will achieve the second-highest profit margin in Darden's portfolio, positioning Darden's top five brands as leaders in full-service restaurant margins. - Chuy's significant off-premise business could expand with improved packaging and delivery processes. Darden Restaurants will acquire all outstanding shares of Chuy's for $37.50 per share, in an all-cash deal valued at about $605 million. The Tex-Mex chain will join Darden’s portfolio, which includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's, and Bahama Breeze. Austin-based Chuy's operates 101 restaurants in 15 states, serving made-from-scratch Tex-Mex dishes. The company generated over $450 million in revenue, with average annual restaurant volumes of $4.5 million, for the year ending March 31, 2024. https://lnkd.in/gE5Cn5R8 Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com Andy Cepeda 📞 (972) 755-5138 ✉️Andy.Cepeda@marcusmillichap.com #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #darden #chuys
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Just Listed: 7 Brew | $1,182,000 | 15-Year Ground Lease | Brownsville, TX - New Construction Includes Double Drive-Thru with Canopies - More Than 191,184 Residents (Five-Mile Radius) - 30 Minute Drive to Matamoros, Mexico (Population of 571,00) 👉 Click link for details https://lnkd.in/gJAJiGmU Contact Vincent Knipp for more information. 📞 (972) 755-5205 Vincent.Knipp@marcusmillichap.com #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #7brew #brownsville #texas
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Has the Fed finally reached a tipping point? Recent data indicates that inflation is moving towards the Federal Reserve's 2% target. Last week's figures show that both CPI and Core CPI have continued their downward trend, reaching 3.0% and 3.3% respectively. Although these levels remain above the desired target, the Federal Reserve's goal of achieving a Core PCE of 2% is supported by these positive trends. Economic trends suggest that the pace of growth is flattening. Chairman Powell has highlighted a softening in the employment market, evidenced by a slight increase in the unemployment rate. Additionally, the loosening labor markets, flat inflation-adjusted retail sales, and other indicators point towards a deceleration in economic growth. Investor perspectives are beginning to shift amid these developments. As the likelihood of rate cuts this year increases, investor sentiment is becoming more optimistic. Elevated rates have presented unique opportunities for investors, driven by conflicting economic expectations. Despite these dynamics, the consensus forecast still anticipates a soft landing for the economy. #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #fed
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Market-to-Close in 60 Days: Family Dollar (Dark) | Multiple Offers | Fort Worth, TX Vincent Knipp, Senior Managing Director Investments, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller. Family Dollar has excellent access and visibility on Ephriham Avenue, with traffic counts exceeding 22,685 vehicles per day. Although the tenant has vacated the property, they still have future rent obligations for the remaining lease term. Contact Vincent Knipp for more information. 📞 (972) 755-5205 Vincent.Knipp@marcusmillichap.com #NNN #realestate #investment #investing #commercialrealestate #property #passiveincome #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #cre #familydollar #fortworth #texas
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Just Listed: Jack in the Box (Corporate) | $2,690,000 | Dallas-Fort Worth, TX MSA - Absolute Net Lease with 6.2 Years Remaining - Outparcel to Walmart Supercenter - Corporate Guaranty - Publicly Traded Company (NASDAQ: JACK) - Excellent Access and Visibility on Davis Boulevard (28,910 VPD) - More Than 228,686 Residents and 240,117 Employees (Five-Mile Radius) 👉 Click link for details https://lnkd.in/gPUAX7Uj Contact Vincent Knipp for more information. 📞 (972) 755-5205 Vincent.Knipp@marcusmillichap.com #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #jackinthebox #dallas #fortworth #texas