CHICAGO -- BP Cos., as part of its strategic franchise expansion program, is selling 29 Indianapolis BP-branded convenience stores and gas stations, including buildings, fixtures and real property. These sites will be sold as franchises, which will be added to BP's growing network of U.S. franchise sites. Also, BP is offering seven other Indianapolis sites as debranded stations and commercial sites.
The sale of these BP Connects in the Indianapolis market is the third phase of franchise network growth east of the Rockies that began in the southern Florida [image-nocss] and Chicago markets earlier this year.
BP's franchise experience includes the am/pm convenience store business west of the Rockies, with nearly 1,000 locations.
Our goal is to build and recruit a franchise network east of the Rockies that complements our already distinctive BP brand, said Ben Amante, BP's vice president of U.S. franchising. We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by finding minority business people looking to franchise in the community. We look forward to building a strong network of franchisees who will help us grow our business and deliver our products and services to more consumers.
Hope Mineo, managing director of Chicago-based NRC Realty Advisors LLC (NRC), which has been retained by BP to handle the sale, said, The BP brand is a prominent leader in the Midwest. We are thrilled to continue to assist BP in accelerating the expansion of its franchise market presence. This is a truly unique opportunity for prospective franchisees who are being offered the opportunity to join a first-round' offering of the BP Connect franchise and actually own the business' buildings and real estate.
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 Corp., Atlantic Richfield (ARCO) and Burmah Castrol. Additional information on BP's franchising opportunities is available at www.bpfranchising.com.
The BP sites are being sold by sealed bids, which must be received by NRC not later than Feb. 8, 2007. Contact NRC for bid submission guidelines and further information at (800) 747.3342, extension 701, or by visiting www.nrc.com/701.
Prospective franchisees are required to attend a complimentary seminar in Indianapolis on Thursday, Jan. 25, 2007, during which they will receive essential information relating to BP franchising and the NRC sealed-bid process. Representatives from BP and NRC will host and present the seminar and will be available throughout the day to meet prospects and answer questions. Reservations and a completed bidding application are required for attendance.
A color portfolio brochure with site information summaries and maps will be available in early January. Also, a site-specific property specific package (PSP) containing comprehensive due-diligence information (including a title commitment, survey, and environmental information) and the bid package, is required to be ordered for each site on which a bid is submitted. PSPs are available from NRC in hard-copy and CD formats for $35 and $25, respectively.
Chicago-based NRC specializes in the accelerated sale of North American commercial real estate property. With a concentration in the convenience story industry, NRC provides divestiture and real estate and financial advisory services. Clients include companies in a variety industries, including petroleum (BP, Shell and Sunoco), c-stores (White Hen, BP Connect and am/pm), financial institutions (GE Capital, Bank One and Wachovia), retail (Kmart), and closely held distributorships and independent retailers.
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