Tuesday, August 19, 2008
NRC Offers Multiple Company Site Bid
Source: Convenience Store NewsCHICAGO – NRC Realty Advisors LLC will offer nine retail units owned by multiple companies in a single sealed bid auction process with bids due Aug. 26, 2008. Previously, all units offered had been owned and/or operated by single businesses, the company stated.
The sale includes five fee-owned, operating c-stores with gas stations that are being divested by New West Stations Inc. located in the Sacramento market. Of those five, two have Wendy's license agreements, four have c-stores and all offer either Shell- or Chevron-branded fuel, according to the company.
"These New West properties have large footprints in high-traffic areas and all are being sold with re-branding opportunities," Evan Gladstone, executive managing director of NRC, said in a statement.
Also being sold is four operating businesses in Southern California with long-term ground leases, which are being divested by other companies. Of those four, two are ampm franchises and ARCO-branded gas stations with car washes, the company stated. The third station is a Chevron-branded location with a c-store and Subway franchise, and the last is Shell-branded gas station with c-store.
"NRC is pleased to continue our partnership with New West and to coordinate the sale of the Southern California sites with other sellers," Gladstone said.
NRC is already separately offering an additional 32 convenience stores for New West, mostly in and around San Diego, in a July 22 bidding, according to the company.
For more information, contact the NRC Customer Service Center at (800) 747-3342, ext, 812, or visit www.nrc.com/812.
© 2008 Nielsen Business Media, Inc. All rights reserved.