Circle K TENANT OVERVIEW

Tenant Description

Circle K has been a successful convenience store operator for over 60 years.

Circle K is a highly sought after net lease C-store tenant. Investors are attracted to their fully passive NNN leases which are backed by an investment grade corporate guarantee from the parent company Alimentation Couche-Tard Inc. Circle K stores also feature strong intrinsic real estate as they are almost always located at highly trafficked intersections. Furthermore, because many Circle K stores feature gasoline, investors can take advantage of accelerated depreciation on building improvements.

Couche-Tard has over 8,000 convenience store across North America operating under one of their various brands. As of January 29,2017, the Couche-Tard network consists of 2,766 stores in Europe and licensing agreements add another 1,700 stores around the globe.

The parent company of Circle K - Alimentation Couche-Tard Inc. - is the largest independent convenience store operator (regardless of petroleum integration) in terms of number of company-operated stores in North America. Couche-Tard is a Canadian company with annual revenues of over $44.93 billion and services some 25 million customers each week. It has four main store brands: Couche-Tard, Kangaroo Express, Mac's and Circle K. Recently, Couche-Tard acquired Topaz, Ireland’s largest convenience and fuel retailer. Couche-Tard is making a continuous effort to rebrand all of their existing locations under the Circle K banner, except for the Couche-Tard retail brand locations in the Province of Quebec due to specifics of that market.