WARRENVILLE, Ill. -- BP is engaged in two large station selloffsone in the Midwest and one on the West Coast.
BP Products North America Inc. is offering 53 properties located in the Chicago metropolitan area. And BP West Coast Products LLC is offering 37 ARCO stations on the West Coast.
The oil company has retained Chicago-based NRC Realty Advisors LLC (NRC) to handle both sales.
The Illinois facilities are most likely slated to be converted to ampm sites as part of a new company strategy. When you see [image-nocss] new convenience stores in the future, you'll see ampm, BP spokesperson Valerie Corr told CSP Daly News in January. All BP Connect stores will become ampm stores over time. ampm is a good brand and will have a lot of success. It definitely meets the needs of our franchisees and consumers and is already a well-known brand.
With more than 900 ampm locations on the West Coast, BP is testing the brand in several markets east of the Rockies, most recently announcing launches in Chicago, Indianapolis, Pittsburgh and parts of Florida. The company recently announced forays of its ampm concept in Pittsburgh and Indianapolis. In the former, BP is selling 34 existing BP-branded sites through NRC to become franchise sites and be rebranded ampm.
In addition to the ampm franchises, BP is offering seven other Pittsburgh-area sites as dealer-owned and -operated BP-branded stations that include buildings, fixtures and real property and eight other properties for sale for other commercial use.
As for Indianapolis, the company says of the 29 sites it is selling as franchise stores, 20 will soon be rebranded to ampm, while the other nine will be converted to ampm at a later date.
The Illinois properties will be put on the block in a sealed-bid sale on May 8, 2007. A complete list of sites and information on submitting bids is available online at www.nrc.com/703, or by calling the NRC Customer Service Center at (800) 747-3342, extension 703. Prospective bidders must attend a BP Franchise & How-To-Bid Seminar to bid on any sites.
The portfolio on the West Coast features 19 sites in California, eight in Washington, five in Oregon and five in Arizona. All sites are currently operating stations with c-stores. They are being sold with 20-year ampm franchises and fuel supply agreements from BP.
The ARCO-branded network consists of both company-owned and dealer/franchisee-owned locations, which has proven to be very successful for both BP and its dealers/franchisees. BP's approach is to continue to grow and strengthen its brands by growing and strengthening its franchise network. As a result, this sale provides an excellent opportunity for dealer/franchisees to own and operate an established and successful ARCO and ampm site on their own, the company said.
The ARCO and ampm brands are market leaders up and down the West Coast, said Hope Mineo, managing director of NRC. These are high-quality sites within strong metro markets. BP, ARCO and ampm provide great brands, along with exceptional support and resources. As such, we expect this sale to generate a high level of interest from prospective dealers and franchisees.
These West Coast sites will be sold through a sealed bid sale in a buy one, some or all format with bids due on May 22, 2007. A complete list of sites and information on submitting bids is available online at www.nrc.com/705, or by calling the NRC Customer Service Center at (800) 747-3342, extension 705.
Prospective bidders must attend a BP Franchise & How-To-Bid Seminar to bid on any sites. NRC will conduct seminars in the following cities: April 23 in Garden Grove, Calif.; April 24 in Concord, Calif.; and April 26 in Portland, Ore.
[See related story, left, in this issue of CSP Daily News.]
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.