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Wednesday, October 6, 2010

NRC Announces Sale of Merced, CA Home Sites, Fresno, CA Office Building and Large Land Parcel in Buckeye, AZ

Chicago, IL October 6, 2010 — NRC Realty & Capital Advisors, LLC, announced today it has been retained in the lender liquidation sale of 58 acres approved for 289 housing lots in Merced, CA, an office building in Fresno, CA, and approximately 361 acres of land in Buckeye, AZ.

The Merced housing sites sit on 58.13 acres and consist of 289 proposed single-family lots, ranging in size from 5,250 to 7,500 square feet and are Phase II and III of the Moraga planned residential development. Starting bid is $400,000.

Located in the northeast section of Merced at the corner of Yosemite Avenue, a major east/west arterial street, and Via Moraga Street, the neighborhood is improved with single-family houses, retail uses and service-commercial buildings along the Yosemite Corridor, an established commercial and residential district. Offsite improvements include concrete curbs, sidewalks and streetlights.

Phase II has 233 lots with tentative map approval and Phase III has tentative map approval pending. The lots are generally rectangular in shape and design with widths of 50 to 60 feet and depths of approximately 105 feet.

Constructed in 1962, the two-story, 7,296-gross-square-foot Fresno office building at 3003 N. Blackstone Avenue is at the northwest corner of Blackstone and Cornell Avenues. There are 18 office suites in the building, and paved parking for 22 cars. Starting bid is $150,000.

Located near the Phoenix metropolitan area within the planned community of Elianto, along the Sun Valley Parkway in the town of Buckeye in Maricopa County, AZ, the approximate 361 acres of land for sale is zoned for commercial and medium density residential (3-6 dwelling units per acre). While unimproved, the site has water and sewer entitlement solutions in place. Sun Valley Parkway is considered the primary transportation corridor for the area. The property is in close proximity to the Buckeye Municipal Airport. Starting bid is $800,000.

"Our seller would like to get these properties sold by the end of the year and off their books," said Evan Gladstone, NRC's Executive Managing Director. "This is a good opportunity for investors and opportunistic buyers."

Bids will be accepted through NRC's sealed bid process. The bid deadline has been set for November 18, 2010. To view property specific information and to receive sale updates, register online at Sales brochures are available by calling 800.747.3342, ext. 1011.

NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries, and specializes in the accelerated sale of commercial and residential real estate. NRC's breadth of experience in the convenience store arena 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. Clients include globally recognized companies in a variety of industries, including petroleum (BP, Shell and Sunoco), convenience stores (Circle K), financial institutions (GE Capital and Fifth Third) and retail (Kmart).

To see a list of convenience stores for sale and gas stations for sale, click here.