Monday, September 10, 2007
BP Offers 34 Branded Gasoline Stations and Commercial Properties in OhioCHICAGO, IL, September 10, 2007 - NRC Realty & Capital Advisors, LLC (NRC) announced today that BP has retained the company to coordinate the sale of thirty-four sites located throughout Columbus, Cleveland and Cincinnati, Ohio marketing areas. Of the thirty-four sites, seventeen are BP branded gasoline stations of which two are closed and can also be offered for redevelopment for other commercial use. The remaining fifteen sites will be offered for commercial redevelopment, including two vacant land parcels.
"The BP brand is distinctive in Ohio," said Hope Mineo, Managing Director of NRC. The BP sites are being sold through NRC's sealed bid sale process. The deadline for sealed bid submission is November 8, 2007.
NRC will conduct a How-To-Bid Seminar© on October 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.
NRC has prepared a complimentary color portfolio brochure with site information summaries and maps that can be obtained by calling 800.747.3342, ext. 717.To submit a bid, bidders must obtain a property specific package (PSP) for each site to be bid upon. Each PSP contains a site specific bid package, including bid instructions, a bidding form and purchase contract. Each PSP additionally contains site-specific due diligence information, such as a title commitment, survey and environmental information. PSPs may be purchased from NRC in either hard-copy or CD-ROM format at $35 and $25, respectively.
BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through 13,000 retail outlets. All Amoco fuels are backed by a written guarantee. BP is the single, global brand formed by the combination of the former British Petroleum, Amoco Corporation, Atlantic Richfield (ARCO) and Burmah Castrol. Additional information on BP's franchising opportunities is available at www.bpampmfranchising.com.
NRC Realty & Capital Advisors, LLC, specializes in the accelerated sale of North American commercial real estate property. With a concentration in the convenience store industry, NRC provides divestiture, commercial and financial advisory real estate services. Since 1989, the company has sold more than 10,000 properties. In 2006 NRC sold properties in thirty-one states with purchase prices aggregating in excess of $300 million. Clients include