Thursday, February 5, 2009
NRC to Coordinate Sale of 165 Sunoco Sites in the Eastern U.S.
CHICAGO, February 5, 2009 - NRC Realty & Capital Advisors, LLC (NRC) announced today that it has been retained by Sunoco, Inc. to manage the sale of 165 sites in the Eastern United States.The properties are located in selected markets in Florida, Massachusetts, Maryland, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia. The portfolio of 165 sites offered for sale includes 134 currently operating retail fuel outlets, 14 non-operating locations that are expected to re-open, and 17 commercial properties. Two of the commercial properties are undeveloped lots.The locations will be sold through a sealed bid sale in a "buy one, some or all" format with bids due on April 15, 2009. A complete list of sites is available online at www.nrc.com/822, or by calling the NRC Customer Service Center at 800-747-3342, extension 822.NRC will conduct a series of How-To-Bid Seminars? during March 2009 in the following cities:Orlando, FL (March 3) Charlotte, NC (March 4) Philadelphia, PA (March 10) Syracuse, NY (March 11) Cleveland, OH (March 12) Registration for the seminars begins at 8:00 a.m. All interested parties are encouraged to attend, at no charge, to learn more about the sale.For each property, NRC has prepared a color sales brochure and property-specific package, which contains store-level information and the bidding terms of the sale. Packets are available for $35 for a hard copy and $25 for a CD-ROM. Individual bid packages will be ready late February.The retail fuel outlets are being offered with the intention that Sunoco will continue to supply gasoline to the operating locations through long-term Direct Supply or Distributor Supply agreements. "These locations are being sold as part of a continuing review of Sunoco-branded retail outlets, with the goal of maximizing return on capital employed and cash flow from our assets," said Robert W. Owens, Sunoco's Senior Vice President of Marketing."These are prime retail properties that will provide excellent investment opportunities to the right buyers," said Hope Mineo, Managing Director of NRC.NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services to the convenience store and petroleum industries. In addition, NRC specializes in the accelerated sale of North American commercial and residential real estate. Since its inception in 1989, NRC has sold more than 10,000 properties. Clients include globally recognized companies in a variety of industries, including