Fort Worth-based convenience store operator Yesway, has appointed Thomas W. Brown as its new chief real estate officer. Yesway was founded in 2015 by Brookwood Financial Partners, a Massachusetts private equity real estate firm.
Brown has a long-standing tenure with Brookwood, during which he made exceptional contributions as a member of the senior management team.
According to Tom Trkla, chairman and CEO of Brookwood and chairman, president, and CEO of Yesway, Brown is highly respected in the private equity, commercial real estate, and convenience retailing sectors for his expertise and experience.
“Over the course of his long-standing tenure at Brookwood, Tom has made outstanding contributions to the firm as an esteemed member of our senior management team. He is extremely well respected by colleagues and clients in the private equity, commercial real estate, and convenience retailing realms for his astute knowledge and depth of experience,” said Trkla in a statement.
Trkla also expressed his excitement about the new chapter that Brown’s appointment represents for Yesway. He looks forward to Brown providing even more guidance and support as the company continues to grow.
“Having worked side by side with Tom for nearly 30 years, I am excited about this next chapter for the company and look forward to him providing even more guidance and support as Yesway continues to grow. I could not be more pleased to celebrate his achievements,” Trkla added.
As chief real estate officer, Brown will be responsible for directing all real estate-related activities for the company, including identifying potential site and convenience store acquisitions, and overseeing the firm’s store remodel, raze and rebuild, and new-to-market construction initiatives.
Brown has helmed Yesway’s aggressive campaign to grow its portfolio through the completion of new stores and raze-and-rebuild projects across its geographic footprint, the company said.
As previously announced, Yesway said it completed the construction of 17 new stores and 21 raze-and-rebuild projects in 2022 at an industry-leading annual return on invested capital.
Boosted by the success of these projects, Yesway said it plans to construct 28 additional new stores in 2023, most of which will be funded using the proceeds of the $190 million in new equity it has raised.
Two brands in rural and suburban markets
Brown will remain president of Brookwood and continue to serve on its executive and investment committees.
Prior to joining Brookwood in 1994, Brown was a vice president of Winthrop Management, a wholly owned subsidiary of Winthrop Financial Associates, a Boston-based real estate investment and management firm.
Brown is a member of the Urban Land Institute, the National Association of Office and Industrial Parks, and the International Council of Shopping Centers.
He is a graduate of the University of Texas and received his MBA from the University of Dallas.
Yesway operates its portfolio primarily under two successful brands, Yesway and Allsup’s, with sites that are differentiated through a leading food service offering, featuring Allsup’s famous deep-fried burrito, and a wide variety of high-quality grocery items and private-label products.
Yesway’s geographic footprint consists of stores in rural and suburban markets across the Midwest and Southwest, where it often is the convenience retail destination of choice and effectively the local grocer.
Yesway moved its headquarters to Fort Worth in 2020. The move was part of the convenience store operator’s fast-growth track that was kickstarted when it acquired the 304-store Allsup’s Convenience Store chain in 2019.
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