CHICAGO -- Thirty-eight T-Mart convenience stores in Kentucky and Tennessee will be auctioned next month by a lending institution as part of a foreclosure sale. Thirty of the sites are currently being run by a number of operators, while eight are closed.
The properties consist of real property improved with convenience stores with gasoline. Most of the sites are unbranded. Others are branded Marathon or Texaco.
The properties will be auctioned through NRC Realty Advisors LLC, Chicago. All bids are due to NRC by June 15, 2006. [image-nocss] An NRC spokesperson said the lending institution requested to remain anonymous.
NRC has made available a comprehensive color sales brochure and a property specific package (PSP) for each property. The PSP contains store-level information and bidding terms of sale.
Each PSP is available at $35 for a hard copy and $25 for a CD-ROM. To order a PSP, contact the NRC Customer Service Center at (800) 747-3342, Ext. 604, or order online at www.nrc.com/604.
The sale of the properties shall be on an as-is, where-is with all faults basis. If a property is sold at a foreclosure sale to a third party with no affiliation or relationship to the selected bidder for such property for a price in excess of the bid amount plus 5%, then the lender shall pay a break-up fee equal to 5% of the bid amount.
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.