SOURCE: Hagen Realty Group

Hagen Realty Group

September 30, 2010 12:59 ET

Former Oasis Convenience Stores/Service Stations in Twin Cities to Sell in Commercial Property Auction

MINNEAPOLIS, MN--(Marketwire - September 30, 2010) -  Thirteen Oasis convenience stores in the Twin Cities area that closed due to a recent bankruptcy will soon have new owners, clearing the way for them to reopen. The stores will be sold in a court-ordered two-phase auction that will culminate with live bidding on Nov. 16.

Hagen Realty Group will market the properties and handle the auctions.

"This may be the best chance in years for the right company or investor to establish a strong foothold throughout the Twin Cities metro area," said bankruptcy trustee John Hedback. The sale includes stores in Inver Grove Heights, Hopkins, Eagan, Brooklyn Park, Burnsville, Robbinsdale, Cannon Falls, Minnetonka, New Brighton, South St. Paul and St. Louis Park.

"Many of these stores have excellent locations and facilities and can quickly be re-established as thriving business locations for individual investors or those who may be seeking to add to an existing network of convenience stores," said Hedback. "All of them have operated within the last six to nine months, and all will be ready for immediate occupancy." The stores were owned by Twin Cities Stores, Inc., doing business as Oasis Stores.

The auction will be conducted in two phases. Sealed bids are being accepted through Friday, Nov. 12, and a live auction will follow on Tuesday, Nov. 16, according to Hedback. "Some sealed bids may be accepted, so individuals need to go ahead and make offers in case the store they want isn't available in the live auction," he said. All high bids are subject to the approval of the U.S. Bankruptcy Court.

The live auction will be held at 2 p.m. at the Marriott Minneapolis West, 9960 Wayzata Boulevard, St. Louis Park, Minn. Individuals interested in additional information about the auction may contact the auction company at 800-942-6475 or visit Representatives will be available to guide inspections of the property the week of Nov. 1.

Hagen Realty Group, based in Carrollton, Ga., is a national asset disposition firm offering accelerated marketing for real estate through accelerated listings, public outcry auctions, sealed bid auctions, and Internet auctions to maximize dollar value for clients. More auction information.

Contact Information

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