All of the 10 BP sites are currently operated by the undisclosed seller as gas station/c-stores. All are fee properties, with deed restrictions precluding non-BP-branded motor fuel operations until December 2021. Fuel supply is currently through a BP jobber; a new owner will need to negotiate and enter into a new agreement for fuel supply.
NRC [image-nocss] Realty & Capital Advisors LLC, which has been retained to coordinate the sale, said that the properties will be sold through a sealed-bid process using NRC's "buy one, some or all" format. The bid deadline has been set for May 3, 2011. To view property specific information and to receive sale updates, register online at www.nrc.com/1103. Sales brochures are available for download on the website.
"This sale offers some strategically-located real estate as well as some excellent operating potential for motor fuel marketers and individual dealers alike," said Evan Gladstone, NRC's executive managing director. "Even those not currently operating in this market may want to look at expansion opportunities."
Chicago-based NRC provides an array of real-estate and financial advisory services to the c-store and petroleum industries and specializes in the accelerated sale of commercial and residential real estate. Its experience in the c-store arena includes portfolio evaluation and analysis; refinancing, recapitalization and sale-leaseback financing options; and merger and acquisition advisory services. Since its inception in 1989, NRC has sold more than 10,000 properties, it said. Clients include BP, Circle K, Shell and Sunoco, among others.
Separately, The Oppenheim Group, Houston, has announced the sale of two-high-volume locations.
One site, a 4,000-square-foot MACS, is located in Joplin, Mo., on 1.5 acres; the other site, a 3,600-square-foot Wise Stop, is located in nearby Neosho, Mo. , on one acre. Both offer gasoline and diesel.
The price tag is $3.3 million.
Contact Philip Sussman at (713) 386-5686, philip@theoppenheimgroup.com.
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