Monday, October 4, 2010
BP to Sell 28 ARCO-branded Sites
Source: Convenience Store News
CHICAGO — BP West Coast Products LLC will sell 28 ARCO-branded retail sites through NRC Realty & Capital Advisors LLC.
The portfolio includes eight sites in the Sacramento and San Francisco areas; nine sites in the Los Angeles and San Diego areas; four sites in the Eugene and Portland, Ore. areas; and seven sites in the Seattle area. Of the sites, 22 are available as combination ampm convenience store franchises with ARCO-branded gasoline. The remaining six are offered as ARCO dealer sites with fuel agreements only, according to a statement by NRC.
"We have worked with BP on similar divestitures in the past, with great success," Hope Mineo, managing director of NRC, said in a statement. "Our sealed bid format is fair to all concerned, and our online information and webinars make the process easy for prospective buyers."
The locations will be sold through NRC's sealed-bid process in a "buy one, some, or all" format. Offers must be received by NRC by the bid deadline of Dec. 2. Sale information is available by calling (800) 747-3342 ext. 1009, or online by registering at www.nrc.com/1009.
As part of the sale process, NRC will conduct complimentary webinars for interested parties. Separate regional online Webinars will be held for Northern California, Southern California and the Pacific Northwest, during the week of Nov. 8. Complete details, including times and registration procedures, are available at www.nrc.com/1009.