Nine California stores, multiple owners, just one sale.
NRC Realty Advisors is putting a twist on its traditional sealed bid auction process. It is offering nine retail units owned by several companies in a single bid auction process which will culminate Aug. 26. Previously, all units offered in each sale had been owned and operated by a single business.
The sale portfolio includes five fee-owned operating convenience stores with gasoline stations being divested by New West Stations, Inc. located in the Sacramento market. Two locations have Wendy’s License Agreements. All the stations are currently branded Shell or Chevron and four have convenience stores.
“These New West properties have large footprints in high-traffic areas and all are being sold with re-branding opportunities” said Evan Gladstone, Executive Managing Director of NRC.
The portfolio also includes four operating businesses in Southern California being divested by other companies. These units have long-term ground leases. Two are being offered with am/pm Franchise and ARCO branded gasoline stations with car washes. The third has Chevron branded gasoline with C-Store and Subway Franchise, and the fourth is Shell branded gasoline with c-store.
All nine locations will be sold through a sealed bid sale in a “buy one, some, or all” format.
NRC is already separately offering an additional 32 convenience stores for New West, mostly in and around San Diego, in a July 22 bidding.
For sale information, contact NRC Customer Service Center at (800) 747-3342, extension 812, or visit www.nrc.com/812.