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Wednesday, December 10, 2008

NRC to Coordinate Sale for National REIT

CHICAGO, IL December 10, 2008 - NRC Realty & Capital Advisors, LLC (NRC) announced today that it has been retained by a national real estate investment trust (REIT) to coordinate the sale of 20 former retail and commercial sites throughout the Southeast, Midwest and Southwest, plus one NNN investment property operating as a Grandy's restaurant located in Albuquerque, NM.The sites are located in select markets, including Alabama (3), Florida (6), Georgia (1), Illinois (1), Mississippi (3), North Carolina (1), New Mexico (1), South Carolina (1), Texas (3) and Wyoming (1). The closed sites include one furniture store, one commercial land parcel (formerly a Pike Nurseries), an auto dealership, an auto repair shop, a large cold storage facility, one furniture manufacturing facility, four Steve & Barry's locations and ten casual dining restaurants (Barnhill's Buffet, Sanford's Grub & Pub and Smokey Bones). The sale also includes one NNN investment property operating as a Grandy's restaurant. See the attached site list for further details of these properties."Our seller is serious about moving these well-located sites and has chosen a sealed bid auction for this portfolio," said Evan Gladstone, Executive Managing Director of NRC. "Many of the restaurant locations lend themselves to a variety of uses besides casual dining, and the big box stores are excellent candidates for redevelopment."The properties will be sold in a "buy one, some or all" format with bids due on Tuesday, February 18, 2009. Complete details are available online at www.nrc.com/826, or by calling the NRC Customer Service Center at 800.747.3342, ext. 826.NRC will conduct property viewings January 26-February 6, 2009, on all sites except the Grandy's location. All interested parties are encouraged to view the properties and learn more about the sale. NRC has prepared investment offering materials including property photos and bidding terms and conditions. Additionally, individual property packages containing site-specific information and bidding materials will be available for each property upon request.NRC Realty & Capital Advisors, LLC provides a full array of real estate and financial advisory services, specializing 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 petroleum (BP, Shell and Sunoco), convenience stores (White Hen Pantry), financial institutions