News Coverage Oil Spot News –Published: June 26, 2006
NEW OWNER, REFURBISHED LOOK IN STORE FOR ARIZONA ARCO ampms
The saying “a change will do you good” could definitely be applied to existing Arco and ampm sites in Arizona, where a requirement of
site sale by BP is that new owners agree to refurbish the stores and pumps, a company spokesman confirmed.
BP, through NRC Realty Advisors, LLC, has been offering for sale for the past year a number of its gasoline stations with franchise stores,
gasoline sites with and without convenience stores and commercial properties across the country in a “buy one, some or all” format.
The company is in the process of selling 33 properties in Arizona.
In May 2005, BP stated, “As part of normal, ongoing business activity, BP (operating under the ARCO brand) reviews its network of sites to
ensure it maintains an efficient and comprehensive offer to the customer. An integral part of this review includes an assessment of whether
it should continue to own any specific site. The ARCO branded network is made up of a mix of company and dealer/franchise owned locations,
which has proved to be very successful, both for BP and its dealers/franchisees, the company said. Within any given market,
there are sites that no longer make sense for ARCO to own, but may offer excellent opportunities for many dealer/franchisees
to own and operate themselves.”
According to information on the company’s site about franchising, the franchise agreements offer 20-year terms.
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