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Tuesday, September 11, 2007

BP Sell-Off Continues

By CSD Staff

Company puts 34 sites in Ohio up for auction. BP has retained NRC Realty & Capital Advisors, LLC (NRC) to coordinate the sale of 34 sites located throughout Columbus, Cleveland and Cincinnati, Ohio marketing areas. Of the 34 sites, 17 are BP-branded gasoline stations of which two are closed and can also be offered for redevelopment for other commercial use. The remaining 15 sites will be offered for commercial redevelopment, including two vacant land parcels.

The sites are being sold through NRC's sealed bid sale process. The deadline for sealed bid submission is Nov. 8, said Hope Mineo, managing director of NRC.

This is the fourth major sell-off BP will execute in 2007 and second in Ohio. In July, BP cut a deal with Tampa, Fla.-based Giant Oil Co., selling off 26 stations in the Akron, Ohio area. BP, in June, sold 28 Stores in Indianapolis and in March the company sold 36 stations in Chicago to expand its am/pm franchise brand.

NRC will conduct a How-To-Bid Seminar on Oct. 18th in Columbus, Ohio. Interested parties are encouraged to attend. For reservations, please contact the NRC Customer Service Center at 800.747.3342, extension 717.

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