BP Puts 104 Properties On the Block in Atlanta

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BP Puts 104 Properties On the Block in Atlanta

ATLANTA -- BP is selling 104 of its properties in the Atlanta area, with the majority to be reimaged or developed as ampm franchise stores with BP branded gasoline stations.

Included in the sale are 83 sites to be rebranded ampm franchise stores with BP-branded gasoline, according to NRC Realty Advisors, which was retained for the sale. Of those sites, 77 are existing BP-branded sites. Within the existing BP-branded sites, 46 will have stores rebranded to ampm; 23 will initially be operated by the buyers as BP, then be converted to the ampm brand; and eight will need complete redevelopment before opening the site as an ampm franchised store with BP-branded gas. In addition, the company is offering five vacant sites for buyers to construct ampm franchises with BP-branded gasoline.

By franchising the sites as ampm, the sale follows BP's plans to expand and grow the ampm brand to reach more consumers.

"Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand," Ben Amante, BP's vice president of franchising in the U.S., said in a written statement. "We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers."

Meanwhile, the company is also offering four BP-branded gas stations -- one of which can be redeveloped for another commercial use -- and 17 other sites for commercial use, including five unbranded gas stations.

"The BP brand is distinctive in the Atlanta metro area and the ampm brand is well regarded," Hope Mineo, managing director of NRC, said in a written statement. "We are thrilled to continue to assist BP in accelerating the expansion of its ampm brand in Atlanta."

The sealed bid offering is due June 7. To be eligible to bid, all interested parties must register for and attend a 'How-to-Bid' seminar in Atlanta on May 14 and 15. More information and property specific packages for each property are available from NRC Realty and can be obtained by calling (800) 747-3342, ext. 704 or by visiting http://www.nrc.com/704/index.php.