News Coverage NPN –Published: Thursday, April 27, 2006
BP OFFERS CHICAGO FRANCHISE OPPORTUNITIES AND OTHER MIDWEST SITES
NRC Realty Advisors announced April 25 that it has been retained by BP Products North America Inc.
to coordinate the sale of 44 convenience and gasoline retail sites as well as 18 surplus properties
in Illinois, Indiana, Ohio and Pennsylvania.
Sixteen of the 44 convenience and retail sites are located in the greater Chicago metropolitan
area and offered for sale by BP with new 20-year BP franchise and fuel supply agreements.
Twenty-eight of the sites will be BP-branded dealer-owned and dealer-operated businesses.
BP plans to build its brand through a network that includes a mix of company-, jobber-, dealer-
and franchisee-owned convenience and gasoline retail locations. As part of normal on-going business
activity, BP reviews its network of branded sites to determine how best to serve customer needs
and yield the best overall performance for the company in each market and site location.
In January, the company announced that it is extending its successful experience in franchising
with am/pm mini markets in the western U.S. to the eastern and Midwestern states. The 16 franchise
agreements that are being offered for sale in Chicagoland follow an earlier offering this year in Florida.
The locations will be sold through a sealed bid sale in a "buy one, some or all" format with bids
due on Tuesday, June 27. A complete list of sites and information on submitting bids is available
at the NRC Web site, nrc.com/610, or by calling the NRC Customer Service Center at 800.747.3342, extension 610.
NRC will conduct How-To-Bid Seminar®s on May 23, in Dayton, Ohio, May 24 in Cincinnati, Ohio and May 25 in
Chicago, Illinois. Attendance at a How-To-Bid Seminar® is required in order to bid on BP branded sites.
For reservations, contact the NRC Customer Service Center at the number cited above.
NRC has made available a comprehensive color sales brochure and a Property Specific Package (PSP)
for each property, which contains store level information and bidding terms of sale. Each PSP
is available at $35 for a hard copy and $25 for a CD-ROM. To order a PSP contact the NRC
Customer Service Center or order via the Web site.
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