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Wednesday, February 1, 2012

NRC Realty To Sell 26 Properties In West Virginia, Pennsylvania & Ohio

Chicago, IL February 1, 2012 - NRC Realty & Capital Advisors, LLC (NRC) announced today that it will be coordinating the sale of 22 operating and closed c-stores plus four excess retail pad sites currently owned, leased, and/or operated by Prima Marketing, LLC, of Denver, Colorado. The properties are located in West Virginia and nearby areas of Pennsylvania and Ohio and include a mix of operating gas stations with c-stores, closed sites, and retail pad sites on key corners.

In announcing the sale, Prima's CEO, Jeffrey Kramer said, "This portfolio consists of excess real estate and operating stores that are not a part of our long-term strategic plan. We believe they will provide great opportunities for the right buyers, as they have for us over the years."

The operating and closed properties are being sold either with or without fuel supply or for adaptive reuse. The c-stores themselves are being sold without brand; however, 7-Eleven franchise opportunities may be available. Of the 26 parcels, 15 are fee properties while 11 are leased sites. Included are 16 operating stores, 5 closed stores, 1 subleased property, and 4 land-only pad sites.

The sale will be conducted using NRC's well-known "buy one, some or all" sealed bid sale process. The bid deadline is March 22, 2012. A complete list of the properties and information regarding submitting offers is available online at www.nrc.com/1115. Interested parties can register there for sale updates or by calling the NRC Customer Service Center at 800-747-3342, extension 1115. 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 the end of February.

Denny Ruben, Executive Managing Director of NRC, said, "West Virginia and surrounding areas are strong c-store markets, even in the current economy. This sale provides some unique opportunities for others already operating in the area as well as those looking to enter these markets. We believe they will draw interest from dealers, jobbers, chain marketers, and even those from outside the industry."

Ohio properties are in Albany, Belpre and Euclid. Pennsylvania properties are in Erie, Grove City, Indiana, Jeannette, Natrona Heights, and New Station. West Virginia sites are in Charleston, Fraziers Bottom, Hernshaw, Huntington, Hurricane, Parkersburg, Pennsboro, Princeton, Ripley, Salt Rock, Scott Depot, St. Albans, and Washington. There are multiple stores in some of those cities and towns.