Wednesday, November 30, 2011
Buchanan Energy Selling 61 Stations
Source: Convenience Store DecisionsBy CSD Staff
Locations for sale in Chicago and St. Louis markets.
Buchanan Energy LLC is selling 38 ExxonMobil-branded gas stations in the Greater Chicago area, as well as 23 BP-branded stations in the Greater St. Louis area. All 61 stations are being sold with branded fuel supply with help from NRC Realty & Capital Advisors.
"These stores include a number of our prime retail locations and some high-volume stations,"said Buchanan Energy's President Steve Buchanan. "We believe they will provide great opportunities for the right dealers or multi-site operators." He added, "We will also give serious consideration to bidders who are able to provide additional fuel volume from other locations."
The sale will be conducted using NRC's well-known "buy one, some or all" sealed bid sale process. The bid deadline for the St. Louis-area stores is Feb. 16, 2012, while the bid deadline for the Chicago-area stores is March 8, 2012. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/1105. Interested parties can register there for sale updates or by calling the NRC Customer Service Center at (800) 747-3342, extension 1105. A sales brochure containing information for all of the sites in the sale will be available and a site specific Property Specific Package (PSP) will be available for each property by mid-December.
"The combination of a long-term fuel supply agreement with a leader in the industry and the opportunity for ownership of the real estate makes these very desirable locations for existing operators as well as for new entrants to the industry," said Denny Ruben, managing director of NRC. "Anyone with an interest in either of these markets should take a serious look at the stores in this portfolio."
Chicagoland stations are located in Arlington Heights, Aurora, Bartlett, Batavia, Bloomingdale, Bolingbrook, Buffalo Grove, Carol Stream, Deerfield, Des Plaines, Downers Grove, Elk Grove Village, Glendale Heights, Glenview, Highland Park, Highwood, Hoffman Estates, Itasca, Libertyville, Lombard, Naperville, Northbrook, Oswego, Palatine, Rolling Meadows, Roselle, Schaumburg, Streamwood, Warrenville and Woodridge. St. Louis area stations are in the city itself as well as in Cool Valley, Ellisville, Webster Groves and Wildwood in Missouri, and in the Illinois towns of Belleville, Cahokia, Edwardsville, Fairview Heights, Pontoon Beach and Washington Park.