Enmark Stations, Inc. ("Enmark") is offering to sell twenty one (21) properties (the "Properties") in Georgia, North Carolina and South Carolina by sealed-bid on Tuesday November 3, 2009. NRC Realty & Capital Advisors, LLC ("NRC") is coordinating the offering for Enmark.
OFFERING
The Properties being offered consist of 18 operating gasoline stations with convenience stores, 2 non-operating gasoline stations and 1 vacant parcel of which all are fee owned (see pages 4 - 9 of the brochure for site specific details).
BID DEADLINE
NRC must receive all bids by Tuesday, November 3, 2009 the ("Bid Deadline"). All bids must be sent to:
NRC Realty & Capital Advisors, LLC
363 W Erie Street, Suite 300E
Chicago, IL 60654
ATTN: SEALED BID SALE 910
TERMS AND CONDITIONS
Sale of the Properties is subject to the terms and conditions of the sale ("Terms and Conditions") located on the last pages of the brochure, on the NRC website at www.nrc.com/910, in the Property Specific Package ("PSP") for each Property, and the Purchase and Sale Agreement ("PSA"). In the event of a conflict between the Terms and Conditions and the provisions of the PSA, the PSA will control.
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. PSP's can be ordered by calling NRC's customer service center at 800.747.3342, extension 910. Each PSP is available at a cost of $35 per hard copy and $25 per CD ROM (including 2-day shipping).
BID FORMAT AND DEPOSITS
Properties will be sold "AS IS, WHERE IS, WITH ALL FAULTS". A bid package will be included in each PSP. A bid deposit of two and one-half percent (2.5%) of the purchase price or $10,000 (the "Bid Deposit"), whichever is greater, must be included with each bid. All deposits must be in the form of a certified or cashier’s check, properly drawn on a U.S. banking institution and made payable to NRC Realty & Capital Advisors, LLC. Bids that are received without a deposit will not be considered. Successful bidders will be required to increase their bid deposit to ten percent (10%) of the purchase price but not less than an additional $10,000 (the "Additional Escrow Deposit") within two business days of written notification from NRC of Enmark’s acceptance of their bid. The Bid Deposit and the Additional Escrow Deposit shall collectively be referred to herein as the ("Earnest Money Deposit"). NRC shall act as an escrow agent for all Earnest Money Deposits until release of those Deposits shall take place under the terms of the PSA. NRC reserves the right to allocate any excess Bid Deposits toward the Additional Escrow Deposit requirement. NRC will return Bid Deposits for unsuccessful bids by certified mail approximately ten (10) business days after the Bid has been rejected.
BRANDING AND FUEL SUPPLY
All locations are being sold WITHOUT the requirement for a fuel brand or fuel supply agreement. Purchasers are responsible to secure supply at their discretion. Currently, most sites are branded Enmark and Seller shall remove the Enmark trade dress after closing.
SUCCESSFUL BIDDER’S PREMIUM
The successful bidder shall pay, in addition to the purchase price, an amount equal to one percent (1%) of the purchase price of the Property at closing.
INSPECTIONS OF PROPERTIES
Visual inspections of Properties may be performed during normal business hours from 9:00am to 4:00pm local time, Monday through Saturday. Inspections do not include backrooms, storage areas, or secure areas. In no event shall such inspections include any environmental testing or sampling. The store managers and employees have been instructed to refer any bidder questions directly to NRC. UNDER NO CIRCUMSTANCES MAY BIDDER ASK QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES. BIDDERS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED FROM BIDDING.
DISCLAIMER
Although information has been obtained from sources deemed reliable, NRC, Enmark 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.