BUYING, SELLING, AND LEASING CONVENIENCE STORES
BUYING, SELLING, AND LEASING CONVENIENCE STORES
J. MARK FREELAND Law Offices of Mark Freeland
806 Pecan McAllen, Texas 78501 (956) 682-8316 (Tel.) (956) 682-8653 (Fax) Jmfree4@
State Bar of Texas 32ND ANNUAL ADVANCED REAL ESTATE LAW COURSE
July 8 - 10, 2010 San Antonio
CHAPTER 17
J. MARK FREELAND LAW OFFICES OF MARK FREELAND
806 PECAN McALLEN, TEXAS (956) 682-8316 (telephone) (956) 682-8653 (facsimile) jmfree4@
BIOGRAPHICAL INFORMATION
Education:
University of Texas at Austin (B.A. with honors, 1975)
St. Mary's University School of Law (J.D., 1978)
Bar Admission:
State Bar of Texas (1979)
Memberships:
American Bar Association State Bar of Texas Hidalgo County Bar Association Hidalgo County Bar Association (Real Estate Section)
Board Certification:
Commercial Real Estate (1987) Farm and Ranch Real Estate (1987) Residential Real Estate (1987)
Employment Experience:
Mr. Freeland has been in private practice in McAllen, Texas, since being admitted to the State Bar of Texas in May, 1979.
BUYING, SELLING, AND LEASING CONVENIENCE STORES
Chapter 17
BUYING, SELLING, AND LEASING CONVENIENCE STORES
32nd Annual Advanced Real Estate Law Course
J. MARK FREELAND
TABLE OF CONTENTS
I.CONVENIENCE STORES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Before Self-Service Gasoline Pumps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 C-Store Retrofitting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Early Design Build . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Modern C-Store Concept . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
1) STRUCTURING THE DEAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2) CHOICE OF ENTITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A) Limited Liability Companies (LLCs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 B) Limited Partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 C) S Corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
II. REAL ESTATE ACQUISITION (UNIMPROVED PROPERTY) . . . . . . . . . . . . . . . . . . . . . 4 1) Roll Back Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4 2) Subdivision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3) Zoning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 4) Building Permit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 5) Signage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6) Use Restrictions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 7) Planned Unit Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 8) Alcoholic Beverage Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 9) Flood Plains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 10) Expansion of Road Right of Way . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 11) Controlled Access . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 12) Title\survey Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 13) Phase I Environmental Site Assessment (ESA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 14) Sanitary Sewer \ Septic Tank - Drain Field System . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 15) Deed Restrict Competition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
III. REAL ESTATE ACQUISITION (IMPROVED PROPERTY) . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
1) Subdivision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2) Zoning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8
3) Title and Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
4) Co-branded Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
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