NOVI, Mich. -- Knight Enterprises Inc. has put 56 Michigan, Ohio and Illinois properties up for sale. The sale portfolio includes 35 operating gas stations with convenience stores, sold with 15-year fuel supply agreements, and five closed stations with c-stores.
The portfolio also includes one 71,000-sq.-ft. strip shopping center in Albion, Mich.; 15 commercial lots, including a 27-acre land parcel adjacent to the Albion strip mall and a 220-acre development parcel in Grayling, Mich.; and one closed restaurant.
These are exceptional [image-nocss] properties in high-traffic areas, said Hope Mineo, managing director of Chicago-based NRC, which Knight Enterprises has retained to coordinate and execute the sale. Knight's national reputation for c-store excellence makes these sites immediately appealing. We expect to generate strong buying interest throughout the entire Midwest, if not beyond.
In addition to its portfolio of Midwest gasoline stations and commercial properties, Knight is a major petroleum distributor and currently serves more than 155 Michigan stations. It is also a major distributor of E85.
NRC will conduct a How-To-Bid Seminar on Thursday, November 16 in Detroit. For more information and reservations, contact the NRC Customer Service Center at (800) 747-3342, extension 614, or visit www.nrc.com/614. It is offering an all-inclusive sales brochure and individual property-specific packages (PSPs). The free brochure provides overviews of the property listings, including location and sales volume. The $35 PSPs ($25 CD-ROM) contain site-specific bid packages and detailed due diligence information. All sites will be sold through a sealed-bid sale in a buy one, some, or all format; bids are due December 14.
NRC Realty Advisors specializes in the accelerated sale of commercial real estate. Clients have included BP, Shell, Sunoco and White Hen Pantry.
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