Market Report: C-Stores

Q4 Market Summary

Convenience stores have continued to be among the most desirable investments within the net lease retail asset class. C-stores have experienced a continued trend of expanded offerings, allowing customers to have a one-stop shopping experience. Customers can expect to purchase items like fresh coffee, made-to-order food, snacks, drinks, specialty items, and even produce. Consumer demand for high-quality, made-to-order meals has grown, and c-stores have been able to capitalize on this demand. The excellent location and high traffic count of many c-stores allow them to be strong candidates for the inclusion of quick service restaurants within their footprint. This symbiotic relationship garners a higher level of store visits for both the c-store and the quick service restaurant. 

Some of the largest c-store operators have built a strong reputation of serving their own high-quality meals, most notably Wawa, which has a diverse and rotating made-to-order menu. Beyond having just gas station pairings, there has been a high adoption of electric vehicle charging stations at c-store locations across the country. A prominent example of this is Tesla, which has been growing its network of Superchargers at a variety of c-store brands.