SDI Petroleum LLC is offering to sell 12 properties located in Texas by sealed bid sale.
The seller 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 Feb. 20, 2014, at 3 p.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 1311
All of the properties are offered for sale as convenience stores with gas and are currently operating. Seven of the properties are offered with the fee interest in the real property (Fee Properties) and five properties are offered with the leasehold interest in the real property (Leased Properties). All properties include furnishings and equipment owned by the seller, plus inventory (which is to be paid for separately as set forth below). Equipment leased by the seller or owned by third parties will not be sold with the properties and will be removed prior to closing. The seller will remove the Tejano Mart brand from the convenience store prior to closing and the convenience store will be sold unbranded.
The properties 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, the seller’s preference is to sell the properties subject to the seller’s fuel supply agreement and remain Shell branded.
Properties sold with fuel supply will be sold with 10-year fuel supply agreements with fuel priced at rack plus one cent, plus freight and taxes. Terms and conditions of fuel supply will be subject to credit approval, and the amount and type of collateral that the supplier will require to be posted by the purchasers of properties will be dependent upon the creditworthiness of the purchasers. Please see the Property Specific Package (“PSP”) for each Property for specific details and additional terms.
Prospective bidders are advised to carefully review the Terms and Conditions.
Properties that are currently operating may be inspected during normal business hours from 8:30 a.m. to 5:00 p.m. local time, Monday through Saturday. UNDER NO CIRCUMSTANCES MAY BIDDERS ASK QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES. BIDDERS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED FROM BIDDING. The store managers and employees have been instructed to refer any questions from a bidder directly to NRC. All pre-bid inspections are limited to non-invasive investigations. Please call NRC at (800) 747-3342, ext. 1311 for further information.