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Monday, September 9, 2013

Oil Terminal in E.P. Goes Up for Sale

Source: East Providence Patch
By William Rupp, Editor

Terminal is located in East Providence waterfront district.

An almost 9-acre industrial site in East Providence that is a former Getty fuel-distribution terminal is being sold by sealed bids.

The site is located at Massasoit Avenue and Dexter Road in the East Providence Waterfront Special Development District. It includes 5 buildings and 12 bulk storage tanks with a capacity of 387,000 barrels of shell capacity, according to NRC Realty & Capital Advisors.

The asking price is $1.5 million. NRC is coordinating viewings of the property.

"This site is strategically located and adaptable for a variety of industrial or other uses," said Evan Gladstone, NRC's executive managing director.

NRC has been retained by Getty Realty Corp. to sell the property.

There is a bid deadline of Oct. 15, according to NRC. Broker cooperation is being sought, with a 3-percent co-op commission being offered.

Information on the site and viewing information can be found by calling NRC Customer Service at 800-747-3342, extension 1301.

Getty Realty Corp. is described in a press release as the leading publicly traded real estate investment trust specializing in ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals. Its properties are located in 20 states across the United States with concentrations in the Northeast and the Mid-Atlantic regions.

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, according to the press release.