RaceTrac Petroleum buys Cranberry site

RaceTrac Petroleum buys Cranberry site

BUYER: RaceTrac Petroleum Inc., Atlanta

SELLER: Dennis J. Fullenkamp, individually as trustee

PROPERTY: intersection of State Road 45 and Cranberry Boulevard in both Charlotte and Sarasota County

PRICE: $1.3 million

LAW FIRM ON DEED: General Counsel of RaceTrac Petroleum Inc., Atlanta

PLANS, DESCRIPTION: Atlanta-based gas-station company RaceTrac Petroleum Inc. purchased 2.14 acres at the intersection of State Road 45 and Cranberry Boulevard for $1.3 million.

The purchase price equated to $697,477 per acre. The convenience store retailer plans to develop a large format, 5,000-square-foot, RaceTrac store with 12 fuel pumps on the site.

“That's the new template we're building across the state,” says Robby Posener, vice president of real estate and engineering for RaceTrac. “We should start in the beginning of the summer. It is a good piece of property outside of a curve at a traffic light on Cranberry, which carries some good cross traffic.”

The gas station has been designed to feature additional design elements to fit into the neighborhood, Posener says.

RaceTrac operates more than 525 retail gasoline convenience stores in 12 southeastern states.