To order a color brochure, please call the NRC Customer Service Center at 800.747.3342, ext. 812.
General Information
CALIFORNIA
4 Gasoline Stations
with Convenience Stores
in Southern California Market Area
Bid Deadline: August 26, 2008
General Information
The Retail Division of New West Stations, Inc., J. Gilbert Moore, Arena Fuels, LLC, Summit Petroleum – L.B., LLC, Cathedral City Fuels Co. and C.H. Houston, LLC collectively (“Seller”) is offering to sell nine (9) operating gasoline stations with convenience stores, collectively the (“Properties”). Five (5) are fee-owned and four (4) are businesses and improvements (c-store building, canopy, tanks, lines, dispensers and car wash buildings, as applicable) with long-term land leases which are located throughout California and are available by sealed-bid on Tuesday, August 26, 2008. NRC Realty Advisors, LLC and it’s subsidiary; NRC Realty Advisors of California, Inc. (“NRC”) is coordinating the offering for the Seller.
PSP Information
A Property Specific Package ("PSP") for each property is available from NRC that contains site specific due diligence information as described below, as available. Prior to receiving a PSP for the Northern California Properties each prospective bidder is required to deliver to NRC a signed Confidentially Agreement. PSP's can be ordered by calling NRC's customer service center at 800.747.3342, extension 812. Each PSP is available at a cost of $35 per hard copy and $25 per CD ROM (including 2-day shipping).
Five year Fuel Sales (gallons) and 2008 YTD
Five year Retail Sales and 2008 YTD
Environmental Information
- Tank and line configurations, sizes & type
- Remediation reports on sites in remediation; no further
action letters
- Tank and line tightness reports
Current title reports
Permits and Licenses
ALTA/ACSM survey
Site Inspections
Properties may be inspected during normal business hours from 8:00am to 5:00pm local time. The store managers and employees have been instructed to refer any questions from a prospective bidder directly to NRC. UNDER NO CIRCUMSTANCES MAY PROSPECTIVE BIDDERS ASK QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES. BIDDERS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED FROM BIDDING.
Branding and Fuel Supply Agreement - Fee Owned Sites
Five (5) sites are being sold with fuel brand and supply agreements. Currently these sites are branded Chevron or Shell. Should the Buyer elect to retain the Chevron brand, they will be expected to enter into a Chevron gasoline direct-supply agreement subject to Chevron’s prior approval. Should the Buyer elect to retain the Shell brand, they will be expected to enter into a Shell gasoline supply agreement with an approved distributor and subject to Shell’s prior approval. Buyer must meet Chevron or Shell’s experience, financial and training requirements prior to closing. However, if Buyers chooses to de-brand, buyers shall remove Chevron or Shell trade dress at closing. Buyer will be required to pay for any (if applicable) associated costs for de-branding. See PSA for further information.
Branding and Fuel Supply Agreement - Leasehold Sites
Two (2) branded Properties are being offered. Both sites are offered with an Assignment of Leasehold interest in the real property. Properties will be sold on a branded basis. Seller will assign the existing gasoline supply agreement to Buyer upon prior approval by Shell or Chevron. Successful bidder must prepare a business plan, complete Shell or Chevron credit and training requirements prior to the Close Date. Seller will pay for assignment fee. See PSA for further information.
Franchise Properties - Leasehold Sites
Two (2) BP/ARCO stations with ampm convenience stores are being offered with an assignment of the existing Franchise and Lease. Both Properties have a prior DOFO (construction) loan and the self-amortized note must be assumed or paid off by buyer before the Close Date (see PSP for further information). Successful bidders will be required to complete the following requirements and qualifications as a condition precedent to becoming an approved Franchisee:
Successful bidder must prepare a business plan, complete BPWCP franchise and credit requirements prior to the Close Date. Successful bidder and/or Operational Designee must be personally available for an interview with a BPWCP representative at a time and place designated by BPWCP. Successful bidder must attend BPWCP am/pm training program at a designated location by BPWCP for a period of four (4) weeks. Seller will pay for assignment fee. Please refer to the PSA for further details.
Franchisee Application - Leasehold Sites Only
All bidders must meet BPWCP/ARCO, Chevron, Shell, and Subway’s (as applicable) Franchise and financial requirements and be pre-qualified before bidding. NRC will provide interested prospects with a Franchisee/Dealer Application, which must be completed IN FULL by the bidder and any of such bidder’s partners participating in the purchase with bidder and returned to NRC at 888-533-4416 within 3 business days of bidder’s receipt from NRC. To receive the Franchisee/Dealer Application form, call the NRC Customer Service Center at 800.747.3342, ext. 812 or visit the Web site at www.nrc.com/812.
Del Taco Licence Agreement
Two (2) locations offer the assignment of the existing Del Taco License Agreement to interested Buyers upon approval from Del Taco. Buyers must meet Del Taco’s experience, financial and training requirements prior to approval of assignment. Buyer will be responsible for the assignment fee. Del Taco has a right of first refusal to operate their business. However, if Buyers chooses to de-brand, buyers shall remove Del Taco’s trade dress at closing. Buyer will be required to pay for any (if applicable) associated costs for de-branding.
Wendy's Licence Agreement
Two (2) locations offer the assignment of the existing Wendy’s Franchise Agreement to interested Buyers upon approval from Wendy’s. Buyers must meet Wendy’s experience, financial and 6 month training requirements prior to approval of assignment. Buyer will be responsible for the assignment fee. Wendy’s has a right of first refusal to operate their business. However, if Buyers chooses to de-brand, buyers shall remove Wendy’s trade dress at closing. Buyer will be required to pay for any (if applicable) associated costs for de-branding.
Subway Franchise
One (1) location offers the assignment of the existing Subway Franchise Agreements to Buyer upon approval from Subway. Buyers must meet Subway’s experience, financial and training requirements prior to approval of assignment. Seller will pay for the assignment fee. Subway has a right of first refusal to operate their business.
Terms and Conditions and Bidding Instructions
All offers are subject to the Terms and Conditions of sale (“Terms and Conditions”) located on the last pages of this brochure, on the NRC website at www.nrc.com/812, in the PSP and to the provisions of the Purchase and Sale Agreement (“PSA”). NRC will provide bidding instructions for the PSA, to be returned to NRC with the bid, to all bidders that have ordered PSPs. No other bidding method is available.
Bid Format
Properties will be sold ‘as-is, where-is’ with all faults. Bidders must submit with their bid, a cashier’s or certified check (“Bid Deposit”) equal to 2.5% of the bid amount for each property bid upon. The check should be made payable to NRC Realty Advisors, LLC. Bids received without a Bid Deposit are non-conforming and will not be considered. Within two (2) business days of written or fax notification from NRC of Seller’s acceptance of the bid(s), successful Bidders must increase their Bid Deposit to 10% of the bid price. NRC will return bid deposits from non-conforming or rejected bids by certified mail approximately ten (10) business days after the Bid has been rejected.
Buyers Premium
The Buyer shall pay, in addition to the purchase price, an amount equal to 5% of the purchase price of the Property at closing.
Disclaimer
Although information has been obtained from sources deemed reliable, NRC, the Seller and any of their representatives, brokers or agents make no guarantees as to the accuracy of the information obtained herein, and offer the Property without expressed or implied warranty of any kind. Properties may be withdrawn at any time without notice. This sale is subject to additional Disclaimers in the sales brochure and the NRC website.
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