BP Offers Sites for Commercial Use

Mostly closed locations are in major U.S. markets

Published in CSP Daily News

CHICAGO -- BP said that it is offering 56 U.S. retail sites for commercial use. Of these sites, 50 are currently closed and six are operating. Some of the sites within this package were previously announced in November as company-owned, company-operated locations that BP will be selling over the next two years.

The sites are located in major marketing areas including Phoenix; Los Angeles; Atlanta; Chicago; Indianapolis; Cleveland and Columbus, Ohio; Albany, Ore.; Pittsburgh; and Seattle. And 52 of the 56 sites will be sold with real estate, while the remaining four located in Duluth and [image-nocss] Suwanee, Ga., and Brecksville and Bedford, Ohio, will be sold with lease agreements. As with many properties, these may be sold with deed restrictions as specified on a site-by-site basis.

NRC Realty Advisors LLC has been retained by BP Products North America Inc. and BP West Coast Products LLC to coordinate the sale of the sites. NRC will accept offers submitted by March 6, 2008. A complete list of sites and information on submitting offers is available online at www.nrc.com/bp or by calling the NRC Customer Service Center at (800) 747-3342, extension 801.

Comprehensive color sales brochures and property-specific packages (PSP) are available for each property, including property information, surveys and offering terms and conditions. Each PSP is available at $35 for a hard copy and $25 for a CD-ROM.

Chicago-based NRC specializes in the accelerated sale of petroleum industry property and commercial real estate throughout the United States, Mexico and Canada. Clients include major oil companies, well-known convenience store chains and leading franchise and commercial lenders, other retailers and independent retailers and distributors.

BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through 14,000 retail outlets. BP is the single, global brand formed by the combination of the former British Petroleum, Amoco, Atlantic Richfield (ARCO) and Burmah Castrol.