News Coverage NPN –Published: Tuesday, April 25, 2006
BP TO SELL 22 SITES IN NORTHERN NEW JERSEY, ONE IN NEW YORK
NRC Realty Advisors, Chicago, announced April 21 that it has been engaged by BP Products North America Inc.
to coordinate and execute the sale of 22 properties in northern New Jersey and one property in Freeport, N.Y.
The properties include 18 BP branded gasoline stations, three vacant land parcels and one land parcel with an existing building.
Of the 18 BP branded gasoline stations, 14 include convenience stores. These properties are currently company-owned,
company-operated BP gas stations being offered with a 10-year dealer supply agreement, with five-year extension terms.
Two vacant land parcels are being sold for development as new BP branded gasoline stations. The remaining land parcel
is being sold “as-is” for redevelopment.
This sale comes as a result of continuous review by BP of its network of branded sites. This review is done to determine
the performance and value of each site location and how to best serve customer needs.
The properties will be sold through a sealed bid sale. Bidders may bid on one, some or all properties, with bids due by Thursday,
June 8. A complete list of sites and information on submitting bids is available online at www.nrc.com/607, or by calling the NRC
Customer Service Center at 800.747.3342, extension 607.
NRC will conduct a How-To-Bid Seminar® on Tuesday, May 16, in Somerset, N.J. Attendance at a How-To-Bid Seminar® is required
in order to bid on BP branded sites. For reservations, please contact the NRC Customer Service Center at 800.747.3342, extension 607.
NRC Realty Advisors, LLC, specializes in the sale of petroleum industry property and commercial real estate throughout the U.S.,
Mexico and Canada. For more information visit the company’s Web site at nrc.com.
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