CHICAGO -- BP is auctioning off 25 stores and surplus properties in the Southeast as the company continues its rationalization of retail sites. Eight of the properties are in south Florida and 17 are in the Atlanta area.
Although a company spokesperson did not have details of the two auctions, he told CSP Daily News the sales come as a result of continuous review by BP of its network of branded sites. This review is done to determine the performance and value of each location and how to best serve customer needs, the company said.
In recent months, BP has placed stores on the auction block in Arizona, California, Illinois, Indiana, New Jersey, New York, Ohio, Oregon, Pennsylvania and Washington.
Six of the Florida sites are properties ripe for development or redevelopment. The other two Florida sites are BP-branded gasoline stations, one with a BP Connect franchise.
In Georgia, the site breakdown includes eight BP-branded gas stations, four de-branded gas stations and five undeveloped commercials sites.
The auctions will be conducted through NRC Realty Advisors LLC, Chicago. The bid deadline for both auctions is Tuesday, August 15. A how to bid seminar for the Florida sites will be held in Miami on Tuesday, July 18. Property-specific packages, comprehensive due-diligence packages assembled for each business, are available for both auctions for $35 (hard book) or $25 (CD-ROM). More information is available by calling (800) 747-3342.
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