News Coverage csdecisions.com –Published: June 27, 2006
BP CONTINUES SELL-OFF
Marketer puts 51 South Florida, Atlanta convenience stores on the block.
Just weeks after announcing it was auctioning off hundreds of stores in major markets across the U.S., BP Inc. yesterday said it will sell-off an
additional 51 stores in South Florida and Atlanta in a similar sealed-bid format through NRC Realty Advisors (NRC).
The sale portfolio includes 34 BP-branded gasoline stations with am/pm franchise stores, BP branded gasoline stations with convenience stores
and commercial sites in South Florida, and 17 similar units in Atlanta.
As part of its ongoing business operations, BP said it 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.
The BP sites will be sold through a sealed bid sale in a "buy one, some, or all" format. Bids are due August 15.
Prospective bidders must attend a complimentary "How-To-Bid Seminar®," that facilitates compliance with sealed bid procedures. Reservations are required.
Interested buyers can should contact NRC at 800.747.3342, ext. 611 for details, or visit www.nrc.com/611 for bid submission guidelines.
In April, BP engaged NRC Realty Advisors to auction off hundreds of properties and supply contracts throughout the U.S.,
including major markets like New York, New Jersey and California.
Those assets included:
75 ARCO gas stations with attached am/pm convenience stores in Arizona, California, Oregon and Washington.
In Illinois, Indiana, Ohio and Pennsylvania, BP is auctioning 115 properties. The sale includes 27 BP convenience stores,
three vacant lots for development as new BP gasoline stations with fuel supply agreements, four vacant lots for development
as new non-BP gasoline stations and 81 commercial sites.
14 BP convenience stores with gas stations, 4 standalone gas stations, two vacant lots for development as new BP gasoline
stations and five commercial lots in New York and New Jersey.
Supply contracts to 16 BP Connect franchise stores, 28 BP gas stations and 19 commercial sites in Illinois, Indiana, Ohio and Pennsylvania.
Back to top