Press Releases ARCO STATIONS WITH am/pm CONVENIENCE STORES FOR SALE IN FOUR WEST COAST STATES
CHICAGO, March 5, 2007 – NRC Realty Advisors, LLC (NRC) announced today that it has been retained by BP West Coast Products, LLC (“BP”) to arrange and execute the sale of 37 ARCO stations on the West Coast.
The portfolio features 19 sites in California, eight sites in Washington, five sites in Oregon, and five sites in Arizona. All sites are currently operating stations with convenience stores. They are being sold with 20-year ampm franchises and fuel supply agreements from BP.
“The ARCO and ampm brands are market leaders up and down the West Coast,” said Hope Mineo, Managing Director of NRC. “These are high-quality sites within strong metro markets. BP, ARCO and ampm provide great brands, along with exceptional support and resources. As such, we expect this sale to generate a high level of interest from prospective dealers and franchisees.”
The ARCO branded network consists of both company-owned and dealer/franchisee-owned locations, which has proven to be very successful for both BP and its dealers/franchisees. BP’s approach is to continue to grow and strengthen its brands by growing and strengthening its franchise network. As a result, this sale provides an excellent opportunity for dealer/franchisees to own and operate an established and successful ARCO and ampm site on their own.
These sites will be sold through a sealed bid sale in a “buy one, some or all” format with bids due on May 22, 2007. A complete list of sites and information on submitting bids is available online at www.nrc.com/705, or by calling the NRC Customer Service Center at 800.747.3342, extension 705.
Prospective bidders must attend a BP Franchise and How-To-Bid Seminar® to bid on any sites. NRC will conduct seminars in the following cities: April 23 in Garden Grove, California, April 24 in Concord, California, and April 26 in Portland, Oregon. For more information, or to register for the Seminar, call the NRC Customer Service Center at 800.747.3342, extension 705.
NRC has prepared a free color sales brochure in addition to individual property specific packages (PSP) for each property, which contain store level information and bidding terms of sale. PSPs are available at $35 for a hard copy and $25 for a CD-ROM. To order individual bid packages please contact the NRC Customer Service Center at 800.747.3342, extension 708, or order online at www.nrc.com/705.
NRC Realty Advisors specializes in the accelerated sale of commercial real estate and financial advisory services. Since 1989, NRC has sold more than 10,000 properties. In 2006 NRC sold properties in 31 states with sales of over $300 million. Clients include globally-recognized market leaders in a variety of industries, including petroleum (BP, Shell, Sunoco), financial institutions (GE Capital, Bank One, Wachovia), and retail (Arby’s, Kmart). For more information, visit our website at www.nrc.com/705
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