There are many shuttered retail facilities, often because of the impact of the recent recession. One particular casualty has been the gas station — thousands of which have gone out of business around the country. So, what can be done with these sites?
As Ronda Kaysen reports in the New York Times: “No numbers are available on how many closed stations remain vacant, but despite problems, the properties can be attractive to developers, especially if they are at desirable intersections. ‘If you own the real-estate, there’s no better time to get out — everybody wants that convenient location,’ said Jeff Lenard, a spokesman for the convenience store association. ‘You could be sitting on a gold mine.’ But converting these sites can be challenging. They often are on small lots and may be contaminated by petroleum leaking from underground storage tanks.”
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Photo by Chester Higgins Jr./New York Times
