Tuesday, September 11, 2007
BP Offering Gas Stations to Independent Dealers
Source: Cleveland.com
BP is offering 34 properties, including 17 Ohio filling stations, for sale to independent gasoline dealers or regional wholesalers. The sale by sealed bid would include long-term supply contracts, typically 10 to 15 years, and the stations would continue to sell BP brand fuel. The stations are in the Cleveland, Columbus and Cincinnati metropolitan areas, the company said. Two of the 17 stations are closed but could be reopened or redeveloped for other commercial uses. The other properties, including two vacant parcels, are offered for commercial redevelopment. Three could be reopened as filling stations.The sale is part of BP's strategy to concentrate on its core business - exploration and production of crude oil and refining, said Chicago-based spokesman Scott Dean. "This is part of our long-term business model," he said. "More and more of our stations are in the hands of independents."
BP also is moving to franchise some of its BP Connect convenience-store stations, he said. BP annually sells more than 15 billion gallons of gasoline at about 13,000 stations, including more than 500 in Ohio. Nationally, more than 75 percent of BP stations are owned by independents, Dean said. NRC Realty Advisors LLC of Florida will coordinate the sale.
The deadline for sealed bids is Nov. 8, the company said. NRC will conduct a how-to-bid seminar Oct. 8 in Columbus and is accepting inquiries at 800.747.3342, Ext. 717. Details of the properties can be seen at www.nrc.com/717.
To reach this Plain Dealer reporter:
jfunk@plaind.com, 216.999.4138
To see a list of convenience stores for sale and gas stations for sale, click here.