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    Convenience Stores Nationwide Go on the Block

    Gas stations, convenience stores and travel centers for sale across the country.

    NEW YORK -- NRC Realty Advisors LLC (NRC) and Situs Inc. are both offering c-store sites for sale, the companies reported.

    NRC has been retained by a national lending institution to coordinate the foreclosure sales of 47 service stations and convenience stores. The sites are located in seven states: Arkansas (2 in the Jonesboro metro area), Colorado (9 in the Grand Junction metro area), Georgia (Albany and the Augusta metro area), Illinois (Anna and Marion), Kentucky (14 sites in Clarksville and Paducah metro areas), Missouri (12), Ohio (5 in Cincinnati and Dayton metro areas) and Texas (Houston metro area).

    Of the 47 properties, 18 have businesses that are currently operating. NRC is soliciting foreclosure bids for the properties. Bidders will sign an agreement stating the amount that they will bid for the site at the foreclosure sale. The lender will initiate (or already has initiated) the foreclosure of a property after it has accepted a bid agreement for that property.

    Due-diligence packages containing site-specific information for each property and bidding terms of sale are available on the NRC website at www.nrc.com/509.

    Situs Inc., a real estate consulting firm, has put 18 convenience stores and two travel centers on the market. The properties, located throughout southern Missouri and northeastern Arkansas, include a number of high-volume stores, as well as a small number of properties that are leased to dealers. The majority of the properties operate under the Conoco brand and many feature co-branding and liquor sales. Situs is actively marketing these sites to industry contacts, regional and national convenience store operators, and brokers active in the industry. The stores are for sale on a “one, some or all” basis.

    For further details, visit www.situscos.com.

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