News Coverage CSP Daily News – Thursday, January 25, 2007
NRC Sails Through 2006
Tops $300 million with sales in 31 states
CHICAGO -- NRC Realty Advisors LLC, a national player 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.
“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.
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 Corp., U.S. Realty Advisors LLC and Sunoco, according to Mineo.
In addition to real estate sales, NRC served as exclusive financial advisor to major c-store operators and was successful in obtaining
forward commitments for sale-leaseback financing totaling $85 million for construction of new c-stores in the Midwest and Southeast.
The expansion into financial and real-estate advisory services and the 1031 marketplace became a focus of NRC in 2004 when Dennis Ruben,
former executive vice president and general counsel of GE Capital Franchise Finance Corp., joined NRC as a principal and managing director.
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 c-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 said it also plans to expand its reach with homebuilders through land auctions, and it is slated to exhibit at the Midwest Builders
Show in March in Rosemont, Ill.
Back to top