MIAMI -- Continuing its recent spate of selloff activity, BP Products North America Inc. (BP) is selling 34 southern Florida properties. The sale portfolio includes BP-branded gas stations with ampm franchise stores, BP-branded stations with convenience stores and commercial sites.
As part of its ongoing business operations, BP frequently reviews its site network, ensuring its holdings are consistent with current financial objectives, the company said. This assessment process includes the determinations of which sites, if any, should be divested from [image-nocss] its portfolio.
As reported in CSP Daily News, the company recently has put up for auction sites in Georgia, New Jersey, New York, Illinois, Indiana, Ohio, Pennsylvania and California, as well as other sites in Florida.
The BP brand is a market leader in the Southeast, said Hope Mineo, managing director of NRC Realty Advisors LLC (NRC), which has been retained by BP to coordinate and execute the sale of these properties. Its current sale portfolio includes high-quality sites in premier locations. The BP brand name, coupled with its unparalleled industry support and resources, will generate strong interest among prospective franchisees and dealers.
She added, BP remains a market leader by continually striving to improve its operations and performance. At the same time, they're creating a strong network of successful entrepreneurs and business leaders through its divestiture process.
The BP sites will be sold through a sealed-bid sale in a buy one, some, or all format; bids are due Aug. 15, 2006. Prospective bidders must attend NRC's July 18 How-To-Bid Seminar, a complimentary presentation that facilitates compliance with sealed bid procedures. The seminar will be held in Miami; reservations are required. , contact the NRC Customer Service Center at (800) 747-3342, extension 611, or visit www.nrc.com/611 for bid submission guidelines.
Chicago-based NRC is offering both an all-inclusive sales brochure as well as individual property-specific packages (PSPs). The free brochure provides overviews of the property listings, including location and gallonage. The $35 PSPs ($25 CD-ROM versions available upon request) contain personalized bid packages and detailed due diligence information.
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