TXB sold a convenience store in Kyle, Texas, just outside Austin, for $9.11 million. This 6,461 square foot store sits on 4.52 acres of land. The Virginia-based buyer used a 1031 exchange to purchase the property.
Expansion and Refurbishment Initiatives
TXB announced a new initiative in central Texas to expand and refurbish locations, planning to open two new stores and refurbish twelve existing ones, adding electric vehicle charging stations at all remodeled sites.
Enhanced Offerings
TXB locations will feature fresh-made food like hand-breaded chicken tenders and quesadillas. They commit to quality and customer experience with freshly made restaurant-quality food. TXB offers private-label products including salsa, jerky, tea, water, and coffee.
CEO’s Vision
Kevin Smartt is the CEO of TXB. He expressed pride in the company’s fast growth in Central Texas. He said, “It’s been an honor to see TXB grow so fast in Central Texas.” This rebrand is more than just a different logo or name; this is a true reflection of who we are as a company. We want our guests to have the absolute best experience every time they visit one of our locations.”
New and Remodeled Locations
The cities set to benefit from the new and remodeled TXB locations include:
- Bee Cave
- Georgetown
- Cottonwood Shores
- Kyle
- Bryan (one existing store and one opening next year)
- College Station (opening next year)
- Marble Falls
- Johnson City
- Wimberley
- Spicewood
- Buchanan Dam
Sale Representation
SRS Capital Markets represented TXB in the recent sale led by Patrick Nutt and William Wamble. SRS is a Southeastern US-based private developer with approximately $731 million in deal volume. The company closed 182 transactions in 34 states, having a strong year. They currently have over 698 properties on the market, with a total value exceeding $3.7 billion.
Recognition
TXB’s achievements have not gone unnoticed, as the company was named the 2023 CStore Decisions Convenience Store Chain of the Year.