CHICAGO, IL June 26, 2006 – NRC Realty Advisors, LLC (NRC) announced today that it has been retained by BP Products North America, Inc.
(BP) to coordinate and execute the sale of 34 South Florida properties. The sale portfolio includes BP-branded gasoline stations with ampm franchise stores,
BP branded gasoline stations with convenience stores and commercial sites.
"The BP brand is a market leader in the Southeast," said Hope Mineo, Managing Director of NRC, "and its current sale portfolio includes
high-quality sites in premier locations. The BP brand name, coupled with its unparalleled industry support and resources, will generate
strong interest among prospective franchisees and dealers."
As part of its ongoing business operations, BP continually reviews its site network, ensuring its holdings are consistent with current financial objectives.
This assessment process includes the determinations of which sites, if any, should be divested from its portfolio.
It's a strategy that benefits both BP and its dealers and franchisees.
"We're pleased to serve BP as it evaluates its holdings," said Mineo. "BP remains a market leader by continually striving to improve its operations and performance.
At the same time, they're creating a strong network of successful entrepreneurs and business leaders through its divestiture process."
NRC is offering both an all-inclusive sales brochure as well as individual property specific packages (PSPs). The free brochure provides overviews of the property listings,
including location and gallonage. The $35 PSPs ($25 CD-ROM versions available upon request) contain personalized bid packages and detailed due diligence information.
To order brochures and PSPs, contact the NRC Customer Service Center at 800.747.3342, extension 611, or visit www.nrc.com/611 for complete site listings.
The BP sites will be sold through a sealed bid sale in a "buy one, some, or all" format; bids are due August 15, 2006. Prospective bidders must attend NRC's
July 18 How-To-Bid Seminar®, a complimentary presentation that facilitates compliance with sealed bid procedures. The seminar will be held in Miami, Florida; reservations are required.
Contact the NRC Customer Service Center at 800.747.3342, ext. 611 for details, or visit www.nrc.com/611 for bid submission guidelines.
NRC Realty Advisors, LLC, specializes in the accelerated sale of North American commercial real estate property. With a concentration in the convenience story industry,
NRC provides divestiture and real estate and financial advisory services. Since 1989, it has sold more than 10,000 parcels, including 1,600 sites (generating $500 million)
in the past 3 years. Clients include globally-recognized market leaders in a variety industries, including petroleum (BP, Shell, and Sunoco), convenience stores (White Hen,
BP Connect, ampm), financial institutions (GE Capital, Bank One, and Wachovia), retail (Kmart), and closely-held distributorships and independent retailers.
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