Wednesday, February 1, 2012
Prima Marketing Offers Up 26 Locations for Sale
Source: Convenience Store News
CHICAGO - Prima Marketing LLC enlisted NRC Realty & Capital Advisors LLC to coordinate the sale of 26 properties it owns, leases or operates in West Virginia, Pennsylvania and Ohio. Included in the sale are 16 operating convenience stores, five closed stores, one subleased property and four land-only pad sites, according to NRC.
"This portfolio consists of excess real estate and operating stores that are not a part of our long-term strategic plan," said Prima Marketing CEO Jeffrey Kramer. "We believe they will provide great opportunities for the right buyers, as they have for us over the years."
The operating and closed sites may be sold with or without fuel supply or for adaptive reuse. The c-stores will be sold without brands, but 7-Eleven franchise opportunities may be available.
"West Virginia and [the] surrounding areas are strong c-store markets, even in the current economy," said Denny Ruben, executive managing director of NRC. "This sale provides some unique opportunities for others already operating in the area, as well as those looking to enter these markets. We believe they will draw interest from dealers, jobbers, chain marketers and even those from outside the industry."
The sites are located in Charleston, Fraziers Bottom, Hernshaw, Huntington, Hurricane, Parkersburg, Pennsboro, Princeton, Ripley, Salt Rock, Scott Depot, St. Albans and Washington, W.Va.; Erie, Grove City, Indiana, Jeannette, Natrona Heights and New Station, Pa.; and Albany, Belpre and Euclid, Ohio. Some of the cities contain multiple stores.
NRC will conduct the sale using its "buy one, some or all" sealed bid sale process, the company said. A sales brochure containing information on the sites and a site-specific Property Specific Package (PSP) for each location will be available at the end of this month.
The bid deadline is March 22. A full list of properties and information on submitting purchase offers is available at www.nrc.com/1115. Individuals can register for sales updates online or by calling the NRC Customer Service Center at 800-747-3342, ext. 1115.