C-store property changes hands in $6.6M deal

A convenience store property in northeast Springfield has changed ownership in a multimillion-dollar deal.

The property at 2963 E. Division St., which houses a net-leased Kum & Go store near U.S. Highway 65, sold for $6.6 million, according to a news release from Calabasas, California-based Marcus & Millichap Inc. (NYSE: MMI), which brokered the sale.

The release notes an Arkansas LLC was the seller to an Iowa LLC buyer. A Dec. 17 warranty deed on file with the Greene County recorder's office lists Ante Opportunity LLC as the new owner, with LLEJ KG 1467 LLC named as the seller.

“Given the tight year-end timeline, all parties collaborated efficiently to close this transaction in under 45 days,” said Timothy Nichols, vice president of investments at Marcus & Millichap, in the release.

Kum & Go has a triple-net lease for roughly 1.55 acres at the property, with 15 years remaining, according to the release. Operating at the location since 1991, Kum & Go in 2019 demolished and rebuilt the convenience store with an expanded design.