Press Releases
BP INTRODUCES ampm FRANCHISE IN PITTSBURGH AREA
Offers for sale 31 sites with convenience retail franchises; also offers for sale 10 BP dealer and 8 commercial sites
CHICAGO, IL January 17, 2007 – NRC Realty Advisors, LLC (NRC) announced today that it has been retained by BP to coordinate the sale of 31 existing BP branded sites in the Pittsburgh area to franchise sites. Buyers will initially operate these franchise sites under the BP Connect brand and complete their convenience store conversion and rebranding to ampm after closing. Franchising these sites as ampm is in line with BP’s strategic plans to expand and grow the brand to reach more consumers with its products and services.
In addition to the ampm franchises, BP is offering 10 other Pittsburgh area sites as dealer-owned and operated BP branded gasoline stations that include buildings, fixtures and real property, and 8 other properties for sale for other commercial use.
With the introduction of BP ampm in the Eastern U.S., including in Indianapolis and Pittsburgh, BP is leveraging the significant ampm franchising experience and market recognition in the Western U.S. and internationally. There are about 1,000 franchisee-owned and/or operated ampm franchise stores in the Western US. Internationally, there are approximately 2,000 ampm stores in Brazil, Japan and Mexico. While similar, the Eastern and Western U.S. ampm franchise offers are distinct from one another and subject to separate franchise documentation.
“The BP brand is distinctive in the Pittsburgh area,” said Hope Mineo, Managing Director of NRC. “We are thrilled to continue to assist BP in accelerating the expansion of its franchise brands. This is a great “ground floor” franchising opportunity. Franchisees become a part of ampm branding and own the real estate, bricks and mortar of the business.”
“Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand,” said Ben Amante, BP’s vice president of franchising in the U.S. “We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers.”
The BP sites are being sold through NRC’s sealed bid sale process. NRC must receive sealed bids by March 13, 2007. Please contact NRC for bid submission guidelines and further information regarding the BP sites and NRC’s sealed bid process at 800.747.3342, ext. 702, or by visiting www.nrc.com/702.
Prospective franchisees are required to attend a complimentary seminar in Pittsburgh on February 20, 2007. Representatives from BP and NRC will host the seminar, which provides essential information related to BP franchising and the NRC sealed bid process. Reservations and a completed Franchisee Application are required for attendance. Please contact NRC at 800.747.3342, ext. 702, for details and to register, or visit www.nrc.com/702 for further information or to download the bidding application.
A color portfolio brochure with site information summaries and maps will be available in late January. Bidders are required to order a property specific package (PSP) for each site on which they submit a bid. Each PSP contains site-specific due diligence information, such as title commitments, surveys and environmental information, and the bid package that must be used to submit a bid. Prospective bidders may order brochures and PSPs by contacting NRC at 800.747.3342, extension 702. Brochures are complimentary and PSPs may be purchased in either hard-copy or CD-ROM format at $35 and $25, respectively, for each PSP.
BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through 13,000 retail outlets. All Amoco fuels are backed by a written guarantee. BP is the single, global brand formed by the combination of the former British Petroleum, Amoco Corporation, Atlantic Richfield (ARCO) and Burmah Castrol. Additional information on BP’s franchising opportunities is available at www.bpfranchising.com.
NRC Realty Advisors, LLC, specializes in the accelerated sale of North American commercial real estate property. With a concentration in the convenience store industry, NRC provides divestiture, commercial and financial advisory real estate services. Since 1989, it has sold more than 10,000 parcels, including 1,600 sites (generating $500 million) in the past 3 years. Clients include globally-recognized companies in a variety industries, including petroleum (BP, Shell, and Sunoco), convenience stores (White Hen, BP Connect, ampm), financial institutions (GE Capital, Bank One, and Wachovia), retail (Kmart), and closely-held distributorships and independent retailers. For more information, visit www.nrc.com.
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