Monday, October 4, 2010
NRC to Market 28 ARCO West Coast Retail Sites
CHICAGO, IL - October 4, 2010 - NRC Realty & Capital Advisors, LLC announced today that 28 ARCO-branded retail sites are being sold by BP West Coast Products LLC. The portfolio includes eight sites in the Sacramento and San Francisco areas; nine sites in the Los Angeles and San Diego areas; four sites in the Eugene and Portland, Oregon areas; and seven sites in the Seattle area.
Most of the sites (22) are available as combination ampm franchises with ARCO branded gasoline. The remaining six are offered as ARCO dealer sites with fuel agreements only.
The locations will be sold through NRC's well-known sealed bid process in a "buy one, some, or all" format. Offers must be received by NRC by the bid deadline of December 2. Brochures on this sale are available by calling 800.747.3342, ext. 1009. Prospective buyers wishing to view property-specific information or receive sale updates may register online at www.nrc.com/1009.
NRC will conduct complimentary webinars for those interested in submitting offers for these locations. Separate regional online webinars will be held for Northern California, Southern California and the Pacific Northwest the week of November 8. Complete details, including times and registration procedures, are available at www.nrc.com/1009.
"We have worked with BP on similar divestitures in the past, with great success," said Hope Mineo, Managing Director of NRC. "Our sealed bid format is fair to all concerned, and our online information and webinars make the process easy for prospective buyers."
BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through more than 11,000 BP and ARCO branded retail outlets and supplies more than four billion gallons of fuel annually to fleets, industrial users, auto and truck manufacturers, railroads and utilities.
NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services and specializes in the accelerated sale of commercial and residential real estate. NRC's breadth of experience includes portfolio evaluation and analysis; refinancing, recapitalization & sale-leaseback financing options; and merger and acquisition advisory services. Since its inception in 1989, NRC has sold more than 10,000 properties. That has included, since 2003 alone, more than 2,100 convenience stores and service stations for an amount in excess of $1.5 billion for clients. Among NRC's clients are globally recognized companies in a variety of industries, including petroleum (BP, Shell and Sunoco), convenience stores (Circle K), financial institutions (GE Capital, Fifth Third and Bank of America) and retail (Kmart).