111 stations, properties on the block
Published in CSP Daily News
CHICAGO -- SuperTest Oil Co. will auction off 111 sites this summer76 currently operating gas stations, most with convenience stores, and 35 commercial redevelopment properties.Some of the locations are branded Sunoco.
The sites are located in Florida (56), Virginia (36), Kentucky (6), North Carolina (8), West Virginia (2), South Carolina (1), Tennessee (1) and Georgia (1).
"There are quite a few high-quality sites in this portfolio, many being sold without any branding requirements," said Hope Mineo, managing director of NRC [image-nocss] Realty Advisors LLC, which is coordinating the sale for SuperTest.
The locations will be sold through a sealed-bid sale in a "buy one, some or all" format with bids due on Friday, Aug. 19, 2005. A complete site list is available online at www.nrc.com/505.
NRC will conduct how-to-bid seminars on Tuesday, August 2, in Orlando, Fla., and on Wednesday, August 3, in Springfield, Va. Interested parties are encouraged to attend, at no charge, to learn more about the sale. NRC has prepared a color sales brochure and individual property specific packages for each property. The brochure contains store-level information and bidding terms of sale.
Chicago-based NRC specializes in the accelerated sale of petroleum-industry property and commercial real estate throughout the United States, Mexico and Canada, and has sold more than 10,000 properties since its inception in 1989. Since 2003, NRC has coordinated the sale of more than 1,600 sites aggregating more than $560 million in sales. Clients include major oil companies, such as Sunoco, BP and Shell; convenience store chains;franchise and commercial lenders, including GE Capital Franchise Finance Corp., Bank One Corp. and Wachovia Corp.; other retailers including K-Mart; and independent retailers and distributors.