NRC Realty Advisors tops $300 million in 2006 sales
NRC Realty Advisors, LLC, specializing in the structured sale of commercial real estate and financial and real estate advisory services for the petroleum and convenience store industries, announced a 43% increase in sales volume for 2006 with closings of properties in 31 states, the company said in a Jan. 24 statement.
“NRC closed on the sale of 260 properties for over $300 million in sales volume for the year. This is our second straight year of double digit growth,” said Hope Mineo, managing director of NRC. Properties sold through sealed bid sales in 2006 included franchised convenience stores, service stations, casual dining and quick service restaurants, retail pad sites and development land, according to the statement.
The majority of the sales for the Chicago-based company involved properties located in California (42), Arizona (26), Kentucky (25), Ohio (23), Indiana (15), Illinois, Florida and New Jersey (11 each). Key clients for NRC in 2006 included BP, Arby’s, Inc., White Hen Pantry, Inc., GE Capital Franchise Finance Corporation, U.S. Realty Advisors, LLC and Sunoco, according to Mineo.
In addition to real estate sales, NRC served as exclusive financial advisor to major convenience store operators and was successful in obtaining forward commitments for sale-leaseback financing totaling $85 million for construction of new convenience stores in the Midwest and Southeast.
NRC enters 2007 with a continuation of its retention by BP in connection with BP’s strategic franchise expansion program to coordinate the sale of BP-branded am/pm convenience stores and gas stations, including buildings, fixtures and real property. Franchise store sales for BP are currently underway in Indianapolis and Pittsburgh. In addition, NRC has current engagements as financial advisor to companies seeking in excess of $100 million in sale-leaseback financing in connection with corporate recapitalizations or acquisitions.
NRC Realty Advisors specializes in the accelerated sale of commercial real estate, with a concentration in the convenience store and petroleum industries.
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