7-Eleven Inc. is selling 143 convenience stores with gas in a sealed bid sale, including in Florida (32), Ohio (10), Pennsylvania (9), Texas (83), Utah (8), and Wisconsin (1).
The company has retained NRC Realty & Capital Advisors LLC (“NRC”) to coordinate the offering and sale of the Properties.
Sealed bids are required to be received by NRC not later than June 27, 2013, at 3p.m. Central Time (the “Bid Deadline”) and sent to:
NRC Realty & Capital Advisors, LLC
350 W. Ontario, 4th Floor
Chicago, IL 60654
ATTN: SEALED BID SALE 1305
While 142 of the Properties are offered for sale to be operated as convenience stores with gas (the “Gas Station Properties”), one is offered for sale to be operated as a convenience store only. In addition, 142 of the Properties are currently operating and one is closed. A total of 121 Properties are offered with the fee interest in the real property (“Fee Properties”) 22 Properties are offered with the leasehold interest in the real property (“Leased Properties”).
All Properties include furnishings and equipment owned by Seller and inventory, as set forth below. Equipment leased by Seller or owned by third parties will not be sold with the Properties and will be removed prior to closing. All convenience stores will be sold unbranded.
Of the Gas Station Properties, 136 are offered with or without fuel supply and bidders may make their offers according to their preference. Although offers without fuel supply will be entertained, Seller’s preference is to sell the Gas Station Properties subject to Seller’s fuel supply agreement. The six Properties located in Utah and Wisconsin will be sold without fuel supply. All Gas Station Properties, including those sold without fuel supply, will be required to retain the existing fuel brand after closing.
Gas Station Properties sold with fuel supply will be sold with 10-year fuel supply agreements and with fuel priced at rack plus one cent plus freight and taxes.
How-To-Bid Seminars will take place in Arlington, Texas on May 30, 2013 and in Fort Lauderdale, Fla. on June 4, 2013 and will provide prospective bidders with a unique opportunity to participate in topic-specific interactive presentations with Seller and NRC representatives and obtain valuable information on the NRC sealed bid process. Each Seminar will begin promptly at 1 p.m. local time and is expected to conclude at approximately 3 p.m. local time.
Attendees are required to register for a seminar at least three days prior to the seminar data by calling NRC.