Thursday, August 22, 2013
Getty Realty Puts East Providence 8.77 AC Industrial Site Up for Bid Through NRC
CHICAGO, August 22, 2013 -- Getty Realty Corp. has retained NRC Realty & Capital Advisors, LLC to coordinate its divesture of an industrial site located in East Providence, RI. The site is a former fuel distribution terminal.
The property, located at Massasoit Avenue and Dexter Road, is 8.77 acres and is zoned as East Providence Waterfront Special Development District. The site includes five buildings ranging from 840 to 6,410 sf and twelve (12) bulk storage tanks with 387,000 barrels of shell capacity, 344,100 barrels of safe-fill capacity. The published asking price is $1.5 million.
"This site is strategically located and adaptable for a variety of industrial or other uses," said Evan Gladstone, NRC's executive managing director.
The property will be sold using NRC's sealed bid sale process. NRC will be coordinating property viewings. A Property Specific Package (due diligence package) is expected to be available in early September, with a bid deadline of October 15, 2013. Broker cooperation is encouraged, and a 3-percent broker co-op commission is being offered. Information on the site and viewing information can be found at www.nrc.com/1301 or by calling NRC Customer Service at 800.747.3342, extension 1301.
Getty Realty Corp. is the leading publicly traded real estate investment trust specializing in ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals. Its properties are located in 20 states across the United States with concentrations in the Northeast and the Mid-Atlantic regions.
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 15,000 properties. Clients include globally recognized companies in a variety of industries, including leading financial institutions (GE Capital, Stancorp Mortgage Investors and Fifth Third), industrial companies (YRC Worldwide) and petroleum and convenience store companies (Sunoco, BP, The Pantry, Circle K).