Wednesday, November 30, 2011
NRC Retained To Sell 61 Gas Stations In Chicago & St. Louis Markets
Chicago, IL -- NRC Realty & Capital Advisors, LLC (NRC) announced today that it has been retained by Buchanan Energy, LLC, to coordinate the sale of 38 ExxonMobil-branded gas stations in the Greater Chicago area, as well as 23 BP-branded stations in the Greater St. Louis area. All 61 stations are being sold with branded fuel supply.
In announcing the sale, Buchanan Energy's President, Steve Buchanan said, "These stores include a number of our prime retail locations and some high-volume stations. We believe they will provide great opportunities for the right dealers or multi-site operators." Added Steve, "We will also give serious consideration to bidders who are able to provide additional fuel volume from other locations."
The sale will be conducted using NRC's well-known "buy one, some or all" sealed bid sale process. The bid deadline for the St. Louis-area stores is February 16, 2012, while the bid deadline for the Chicago-area stores is March 8, 2012. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/1105. Interested parties can register there for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1105. A sales brochure containing information for all of the sites in the sale will be available and a site specific Property Specific Package (PSP) will be available for each property by mid-December.
Denny Ruben, Managing Director of NRC, said, "The combination of a long-term fuel supply agreement with a leader in the industry and the opportunity for ownership of the real estate makes these very desirable locations for existing operators as well as for new entrants to the industry. Anyone with an interest in either of these markets should take a serious look at the stores in this portfolio."
Chicagoland stations are located in Arlington Heights, Aurora, Bartlett, Batavia, Bloomingdale, Bolingbrook, Buffalo Grove, Carol Stream, Deerfield, Des Plaines, Downers Grove, Elk Grove Village, Glendale Heights, Glenview, Highland Park, Highwood, Hoffman Estates, Itasca, Libertyville, Lombard, Naperville, Northbrook, Oswego, Palatine, Rolling Meadows, Roselle, Schaumburg, Streamwood, Warrenville and Woodridge. St. Louis area stations are in the city itself as well as in Cool Valley, Ellisville, Webster Groves and Wildwood in Missouri, and in the Illinois towns of Belleville, Cahokia, Edwardsville, Fairview Heights, Pontoon Beach and Washington Park.
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. NRC's breadth of experience in the convenience store arena 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. Clients include globally recognized companies in a variety of industries, including petroleum (BP and Sunoco), convenience stores (Circle K, The Pantry), financial institutions (GE Capital, Standard Insurance Corp. of New York and Fifth Third Bank) and opportunistic investors such as Platinum Equity.