Thursday, August 13, 2009
NRC Realty & Capital Advisors Opens New Service To All Operators
Source: NPN - Petroleum and Convenience
NRC Realty & Capital Advisors, LLC, (NRC) has announced the launch of NRC Mart, a unique service for sellers of single or multiple convenience stores that capitalizes on NRC?s extensive credentials in the sale of large portfolios. NRC Mart will launch on August 13, 2009, with an initial listing of approximately twenty c-stores with gas in Southern California, Arizona and Connecticut valued at $40 million, but is expected to have additional stores for sale in Chicago, Atlanta and other cities in the near future.
According to Evan Gladstone, Executive Managing Director of NRC, the new venture is a natural outgrowth of the firm?s well-known divestiture work on behalf of companies like BP, Shell, Sunoco and White Hen Pantry over the past decade. ?We have developed vast buyer databases - more than 125,000 prospects and more than 35,000 e-mail subscribers - that have previously been available to benefit only our major clients, largely through our sealed bid sale process. We believe we will be able to draw the largest number of qualified buyers for individual store sales in the same way we?ve been able to do it for larger portfolios of stores, leveraging on our past and ongoing advertising campaigns in the tens of millions of dollars, the working relationships we?ve developed with many industry professionals and individual operators, plus diligent mining of our prospect databases."
"Traditional commercial and business brokers simply do not have the experience or relationships that NRC has in the c-store sector," Gladstone added. "NRC?s professionals are expert in working through the challenges specific to closing c-store sales - from national exposure marketing to assembly of comprehensive due diligence packages through environmental issues, fuel supply, franchise assignment, and assisting buyers through the financing and closing process which has become significantly more challenging in the recession and financial meltdown."
In many respects, sellers of individual c-stores - or small groups of stores - will work with NRC Mart in ways similar to dealing with a local real estate broker. Sellers can choose from a high-profile listing or a confidential listing. Most units will have an asking price, and NRC expects most listings to be of operating units, but assumes there may occasionally be non-operating or out-of-industry units listed as well.
Potential buyers will also realize significant benefits from NRC Mart. Based on a buyer?s known market interests, NRC will e-mail or call when a site fitting those parameters is available. In addition, buyers will be able to check online at www.NRCMart.com to see a list of all properties as they become available. NRC Mart will not utilize NRC?s well-known sealed bid sale process, but rather properties will be sold through their "Bid Now" online technology platform.
"Over the years, through our expertise and vast buyer databases, NRC has consistently delivered the highest price in the shortest amount of time for sellers of real estate in the markets we specialize in," Gladstone concluded. "Reduced selling time means minimized holding costs. We?ve achieved those highest returns, independent of market liquidity. We?re now ready to extend those benefits to companies wishing to sell just a few stores."
NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services and specializes in the accelerated sale of commercial and residential real estate. NRC?s breadth of experience includes portfolio evaluation and analysis; refinancing, recapitalization & sale-leaseback financing options; and merger and acquisition advisory services. Since its inception in 1989, NRC has sold more than 10,000 properties. That has included, since 2003 alone, more than 2,100 convenience stores and service stations for an amount in excess of $1.5 Billion for clients. Clients include globally recognized companies in a variety of industries, including petroleum (BP, Shell and Sunoco), convenience stores (White Hen Pantry and Circle K), financial institutions (GE Capital, Fifth Third and Bank of America) and retail (Kmart). For more information, visit www.nrc.com.
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