site no. 600 309 putnam road wauregan, ct property... · property specific package. property...
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Site No. 600
Wauregan, CT
800.747.3342, ext. 1502
www.nrc.com/1502
309 Putnam Road
NRC REALTY & CAPITAL ADVISORS, LLC
For sale updates, please check our Web site at:
Property Specific Package
Property Specific Package (1502)
NRC Realty & Capital Advisors, LLC 350 W Ontario Street, 4th Floor
Chicago, IL 60654
Although information has been obtained from sources deemed reliable, NRC Realty & Capital Advisors, LLC, the seller, and/or its representatives, brokers or agents make no guarantee as to the accuracy of the information contained herein, and offer the properties without expressed or implied warranty of any kind. Properties may be withdrawn at any time without notice. Sale is subject to the terms and conditions contained on the website and in the Property Specific Package. Sale is conducted in conjunction with the following state-licensed brokers: CT - Auction Advisors, LLC, License #REB.0758959, MA - NRC Realty & Capital Advisors of MA, LLC, License #10161, ME - Continental Real Estate Group, Inc., License #AC90602483, NH - National Real Estate Clearinghouse of NH, LLC, License #070084, NY - Auction Advisors, License #10991209380, PA - NRC Realty & Capital Advisors of PA, LLC, License #RB068189, RI - Continental Real Estate Group, Inc., License #C15997.
BROKER PARTICIPATION. A fee equal to three percent (3%) of the gross selling price of each Property, net of Buyers Premium, will be paid by NRC upon the closing of escrow of the sale of such Property pursuant to the PSA to any licensed broker or agent whose registered prospect consummates the sale. A BROKER THAT REPRESENTS A CURRENT LICENSEE OF A PROPERTY WILL NOT BE ELIGIBLE FOR THIS FEE. Brokers must register their prospect(s) with NRC no less than three (3) days prior to the Bid Deadline by completing the Co-Op Broker registration in the form provided by NRC without modification, and faxing it to NRC at 312.278.6900, referencing Sale 1502. All such Co-Op Broker registrations are not effective until accepted in writing by NRC and NRC shall have the authority to determine if any registration is accepted based upon the requirements of these Terms and Conditions and the Co-Op Broker registration document, in its sole judgment. No registration will be accepted by NRC and no commissions will be paid in connection with any prospect who has previously expressed interest in the Property with Seller or its agents or who has been contacted by NRC. No commissions will be paid on any Property to brokers participating as a principal in the purchase of the Property or who has a direct or indirect ownership interest in Purchaser, and an affidavit may be required stating that the broker is acting solely as broker and not as Purchaser and has no direct or indirect ownership interest in Purchaser. NO OTHER FORM OR ORAL REGISTRATION IS PERMITTED.
NRC Realty & Capital Advisors, LLC
I. EXECUTIVE SUMMARY
Property Overview Local Area Information Survey or Site Plan
II. FINANCIAL INFORMATION
Tax Bill III. LEGAL DOCUMENTS
License Agreement Title Information
IV. ENVIRONMENTAL INFORMATION
Environmental Reports
V. BID PACKAGE Bid Instructions Bid Form Terms and Conditions of Sale Purchase and Sale Agreement Seller Financing Addendum
Table of Contents
I. EXECUTIVE SUMMARY
Property Overview
I. Executive Summary
Property Description
NotesNECG site - See Terms & Conditions
Reduced Asking Price $295,000
YesLicensee Occupied
Month-to-MonthLicense Term
Cross Streets Putnam / CT-12 & Wauregan / CT-205
1.10 acLot Size
WindhamCounty
Commercial - COMMZoning
$7462014 Property Taxes
Zip Code 06239
400 sfBuilding Size
Offering Commercial & Retail
$2,697Monthly License Payment
Site No. 600
309 Putnam Road
Wauregan, CT
NRC Realty & Capital Advisors, LLC
Local Area Information
I. Executive Summary
Pop-Facts: Demographic Quick Facts 2015 Report
Radius 1: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 3Radius 2
0.00 - 5.00 miles0.00 - 3.00 miles0.00 - 1.00 miles
% % %Radius 1Description
Population
28,45810,5151,961 2020 Projection
28,57610,6291,989 2015 Estimate
28,83410,7992,028 2010 Census
26,85310,0821,892 2000 Census
7.38%7.12%7.18% Growth 2000 - 2010
-0.90%-1.58%-1.93% Growth 2010 - 2015
-0.41%-1.07%-1.40% Growth 2015 - 2020
Households
10,6333,976701 2020 Projection
10,6664,010710 2015 Estimate
10,7334,059722 2010 Census
9,9253,780677 2000 Census
8.14%7.39%6.70% Growth 2000 - 2010
-0.62%-1.22%-1.69% Growth 2010 - 2015
-0.32%-0.86%-1.25% Growth 2015 - 2020
2015 Est. Population by Single-Classification Race 10,629 28,5761,989
26,189 91.6593.149,9001,850 White Alone 93.01
550 1.921.3714621 Black or African American Alone 1.06
152 0.530.52555 American Indian and Alaska Native Alone 0.25
471 1.650.9510119 Asian Alone 0.96
17 0.060.0896 Native Hawaiian and Other Pacific Islander Alone 0.30
463 1.621.1812513 Some Other Race Alone 0.65
733 2.572.7729476 Two or More Races 3.82
2015 Est. Population by Ethnicity (Hispanic or Latino) 10,629 28,5761,989
1,337 4.684.53482103 Hispanic or Latino 5.18
27,239 95.3295.4710,1471,886 Not Hispanic or Latino 94.82
2015 Occupied Housing Units by Tenure 4,010 10,666710
7,388 69.2771.822,880480 Owner-Occupied 67.61
3,278 30.7328.181,130230 Renter-Occupied 32.39
2015 Average Household Size 2.63 2.592.80
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31 OfPage
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Pop-Facts: Demographic Quick Facts 2015 Report
Radius 1: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, aggregate
Radius 3Radius 2
0.00 - 5.00 miles0.00 - 3.00 miles0.00 - 1.00 miles
% % %Radius 1Description
2015 Est. Households by Household Income 4,010 10,666710
1,056 9.909.4838053 Income < $15,000 7.46
907 8.508.0532339 Income $15,000 - $24,999 5.49
843 7.908.8535579 Income $25,000 - $34,999 11.13
1,559 14.6215.14607119 Income $35,000 - $49,999 16.76
2,107 19.7519.60786155 Income $50,000 - $74,999 21.83
1,917 17.9719.33775133 Income $75,000 - $99,999 18.73
988 9.268.9035752 Income $100,000 - $124,999 7.32
667 6.256.0124145 Income $125,000 - $149,999 6.34
434 4.073.5414229 Income $150,000 - $199,999 4.08
106 0.990.70284 Income $200,000 - $249,999 0.56
73 0.680.37152 Income $250,000 - $499,999 0.28
9 0.080.0210 Income $500,000+ 0.00
2015 Est. Average Household Income $67,795 $70,087$67,960
2015 Est. Median Household Income $60,841 $61,481$60,413
2015 Median HH Inc. by Single-Classification Race
62,51161,75561,435 White Alone
27,46633,86329,922 Black or African American Alone
40,80432,945133,101 American Indian and Alaska Native Alone
55,10759,70668,498 Asian Alone
62,50062,50062,500 Native Hawaiian and Other Pacific Islander Alone
45,28260,57680,115 Some Other Race Alone
50,05447,07744,936 Two or More Races
46,86973,50584,886 Hispanic or Latino
61,84060,35358,773 Not Hispanic or Latino
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Pop-Facts: Demographic Quick Facts 2015 Report
Appendix: Area Listing
Radius Definition:
Block GroupType: Radius 1 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 1.00
-71.90642141.741584
Radius Definition:
Block GroupType: Radius 2 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 3.00
-71.90642141.741584
Radius Definition:
Block GroupType: Radius 3 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 5.00
-71.90642141.741584
2
974937484
Project Information:
Order Number:
Site:
Nielsen Solution Center 1 800 866 6511
Prepared By:
Prepared For:
33 OfPage
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Radius 1: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 1.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Total Businesses 51 802 16
Private Sector 48 773 16
Public Administration 3 28 11
Agriculture, Forestry, Fishing and Hunting 0 0 1
Mining, Quarrying, and Oil and Gas Extraction 0 3 8
Utilities 0 0 0
Construction 4 21 6
Manufacturing 9 417 47
Wholesale Trade 3 32 10
Transportation and Warehousing 2 5 3
Information 0 0 0
Real Estate and Rental and Leasing 2 8 4
Professional, Scientific, and Technical Services 5 13 3
Management of Companies and Enterprises 0 0 0
Administrative, Support, Waste Mgmt Remediation Services 0 1 3
Educational Services 1 78 93
Healthcare and Social Assistance 1 24 20
Arts, Entertainment, and Recreation 0 0 0
Retail Trade 8 135 17
Motor Vehicle and Parts Dealers 0 0 0
Nielsen Solution Center 1 800 866 6511
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Business-Facts: Workplace Population 2015
Radius 1: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 1.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Furniture and Home Furnishing Stores 0 0 0
Electronics and Appliance Stores 1 1 1
Building Material and Garden Equipment, Supplies Dlrs 0 0 1
Food and Beverage Stores 3 116 41
Health and Personal Care Stores 0 8 20
Gasoline Stations 0 2 4
Clothing and Accessories Stores 0 0 1
Sporting Goods, Hobby, Book and Music Stores 0 0 0
General Merchandise Stores 1 5 3
Miscellaneous Store Retailers 0 0 2
Nonstore Retailers 1 2 2
Finance and Insurance 4 4 1
Monetary Authorities-Central Bank 0 0 0
Credit Intermediation and Related Activities 4 3 1
Securities, Comm Cntrcts, Fin Invests, Related Activities 0 0 0
Insurance Carriers and Related Activities 1 1 2
Funds, Trusts and Other Financial Vehicles 0 0 0
Accommodation and Food Services 4 18 5
Accommodation 1 5 4
Food Services and Drinking Places 2 14 6
Other Services (except Public Administration) 4 12 3
Repair and Maintenance 2 3 2
Personal and Laundry Services 1 7 5
Religious, Grant Making, Civic, Professional, Similar Orgs 1 2 2
Residential Population 1,989
Residential Population per Business 39
Number of Households 710
CY Households Per Business 14
Nielsen Solution Center 1 800 866 6511
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82 OfPageWed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Total Businesses 270 2,172 8
Private Sector 252 2,046 8
Public Administration 10 115 12
Agriculture, Forestry, Fishing and Hunting 2 6 3
Mining, Quarrying, and Oil and Gas Extraction 2 12 6
Utilities 1 6 11
Construction 27 113 4
Manufacturing 21 620 30
Wholesale Trade 10 117 11
Transportation and Warehousing 8 26 3
Information 2 7 4
Real Estate and Rental and Leasing 12 39 3
Professional, Scientific, and Technical Services 22 57 3
Management of Companies and Enterprises 0 0 0
Administrative, Support, Waste Mgmt Remediation Services 7 26 4
Educational Services 5 261 51
Healthcare and Social Assistance 21 111 5
Arts, Entertainment, and Recreation 1 8 5
Retail Trade 46 367 8
Motor Vehicle and Parts Dealers 5 28 5
Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Prepared By:
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83 OfPageWed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Furniture and Home Furnishing Stores 2 5 3
Electronics and Appliance Stores 2 6 3
Building Material and Garden Equipment, Supplies Dlrs 6 40 7
Food and Beverage Stores 10 159 16
Health and Personal Care Stores 3 34 11
Gasoline Stations 2 17 8
Clothing and Accessories Stores 2 2 1
Sporting Goods, Hobby, Book and Music Stores 2 10 5
General Merchandise Stores 3 23 9
Miscellaneous Store Retailers 6 37 6
Nonstore Retailers 2 5 2
Finance and Insurance 18 35 2
Monetary Authorities-Central Bank 0 0 0
Credit Intermediation and Related Activities 13 24 2
Securities, Comm Cntrcts, Fin Invests, Related Activities 0 0 0
Insurance Carriers and Related Activities 5 11 2
Funds, Trusts and Other Financial Vehicles 0 0 0
Accommodation and Food Services 15 155 10
Accommodation 4 27 7
Food Services and Drinking Places 11 128 12
Other Services (except Public Administration) 32 81 3
Repair and Maintenance 11 26 2
Personal and Laundry Services 11 31 3
Religious, Grant Making, Civic, Professional, Similar Orgs 11 25 2
Residential Population 10,629
Residential Population per Business 39
Number of Households 4,010
CY Households Per Business 15
Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Prepared By:
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84 OfPageWed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Total Businesses 1,169 9,153 8
Private Sector 1,039 8,011 8
Public Administration 106 1,104 10
Agriculture, Forestry, Fishing and Hunting 8 40 5
Mining, Quarrying, and Oil and Gas Extraction 5 33 7
Utilities 6 295 50
Construction 97 485 5
Manufacturing 51 1,055 21
Wholesale Trade 39 420 11
Transportation and Warehousing 23 137 6
Information 8 54 7
Real Estate and Rental and Leasing 43 138 3
Professional, Scientific, and Technical Services 82 234 3
Management of Companies and Enterprises 0 0 0
Administrative, Support, Waste Mgmt Remediation Services 38 264 7
Educational Services 23 824 36
Healthcare and Social Assistance 159 1,426 9
Arts, Entertainment, and Recreation 18 126 7
Retail Trade 158 1,214 8
Motor Vehicle and Parts Dealers 19 134 7
Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Prepared By:
Prepared For:
85 OfPageWed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles, Total
Per Establishment
Employees
Establishment
Total
Employees
Total
Business Description
Furniture and Home Furnishing Stores 8 19 2
Electronics and Appliance Stores 9 35 4
Building Material and Garden Equipment, Supplies Dlrs 21 84 4
Food and Beverage Stores 32 313 10
Health and Personal Care Stores 7 55 8
Gasoline Stations 7 53 7
Clothing and Accessories Stores 4 11 3
Sporting Goods, Hobby, Book and Music Stores 11 26 2
General Merchandise Stores 6 219 38
Miscellaneous Store Retailers 28 256 9
Nonstore Retailers 5 10 2
Finance and Insurance 75 233 3
Monetary Authorities-Central Bank 0 0 0
Credit Intermediation and Related Activities 47 153 3
Securities, Comm Cntrcts, Fin Invests, Related Activities 3 6 2
Insurance Carriers and Related Activities 25 75 3
Funds, Trusts and Other Financial Vehicles 0 0 0
Accommodation and Food Services 61 536 9
Accommodation 5 44 8
Food Services and Drinking Places 56 492 9
Other Services (except Public Administration) 146 495 3
Repair and Maintenance 29 92 3
Personal and Laundry Services 58 208 4
Religious, Grant Making, Civic, Professional, Similar Orgs 59 195 3
Residential Population 28,576
Residential Population per Business 24
Number of Households 10,666
CY Households Per Business 9
Nielsen Solution Center 1 800 866 6511
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Business-Facts: Workplace Population 2015
Prepared from Nielsen Business-Facts, this includes controlled data from InfoGroup and Bureau of Labor Statistics.
* Industries (Government & Non-Profit), or the Public Sector, includes Public Administration , Museums, Educational, and Social
Services. All the rest of the Industries are the Private Sector.
Nielsen Solution Center 1 800 866 6511
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87 OfPageWed May 06, 2015Prepared On:
Business-Facts: Workplace Population 2015
Appendix: Area Listing
Radius Definition:
Block GroupType: Radius 1 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 1.00
-71.90642141.741584
Radius Definition:
Block GroupType: Radius 2 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 3.00
-71.90642141.741584
Radius Definition:
Block GroupType: Radius 3 Reporting Detail: Aggregate Reporting Level:
Area Name:
DANIELSON, CT 06239-2003 -Radius
Latitude/Longitude309 PUTNAM RD
0.00 5.00
-71.90642141.741584
2
974937484
Project Information:
Order Number:
Site:
Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Prepared By:
Prepared For:
88 OfPageWed May 06, 2015Prepared On:
Traffic Volumes
Radius 1: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 1.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 1.000/ S.6/N20058100Shepard Hill RdPutnam Rd
ADT 0.000/NW.01/NW20055700Front StWauregan Rd
ADT 0.000/ N.09/N20055700Fountain StPutnam Rd
ADT 1.000/NW.09/NW20054400Maynard RdWauregan Rd
ADT 0.000/ N.14/S20056600Fountain StPutnam Rd
5Total Traffic Count Points reported:
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Project Code:
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 3.000/SW.09/NE20053200Sugar Brook RdBlack Hill Rd
ADT 2.000/SE.03/E20058800Railroad AveProspect St
ADT 2.000/SE.08/SE200510000Bitgood VillageProspect St
ADT 2.000/ S.24/N200530000Prospect StI- 395
ADT 2.000/SE.06/SW20056900River StMain St
ADT 2.000/SE.06/SW20056200Church StMain St
ADT 2.000/ S.09/NW200511500Green Hollow RdE Main St
ADT 2.000/SE.03/W20053800Victoria DrN Main St
ADT 2.000/ S.15/E200510000Green Hollow RdE Main St
ADT 3.000/SE.13/W20053100Collelo AveN Main St
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Project Code:
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 1.000/ S.03/N200511400Morton LnMain St
ADT 2.000/SE.21/S200525700Prospect StI- 395
ADT 1.000/ S.01/NE20053800School St ExnBlack Hill Rd
ADT 1.000/ S.1/E20054200Torrey LnSchool St
ADT 1.000/ S.07/NW2005400Trout Hatchery RdCady Ln
ADT 2.000/SE.1/NE20052400Arnio DrLake St
ADT 2.000/ E.13/NE20051500Moosup Pond RdLake St
ADT 2.000/ E.09/NE20052600N Sterling RdSnake Meadow Rd
ADT 3.000/ E.05/NE20051200Pond Hill RdSnake Meadow Rd
ADT 1.000/ S.6/N20058100Shepard Hill RdPutnam Rd
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 3.000/ E.23/S2005900Pond Hill RdSnake Meadow Rd
ADT 0.000/NW.01/NW20055700Front StWauregan Rd
ADT 0.000/ N.09/N20055700Fountain StPutnam Rd
ADT 1.000/NW.09/NW20054400Maynard RdWauregan Rd
ADT 0.000/ N.14/S20056600Fountain StPutnam Rd
ADT 3.000/ E.08/N2005600Olearos Hill RdSnake Meadow Rd
ADT 1.000/NW.13/NW20053700Allen Hill RdWauregan Rd
ADT 2.000/NE.42/NE200527800Connecticut TpkeI- 395
ADT 3.000/NW.25/S20052200Beecher RdCanterbury Rd
ADT 1.000/ N.03/N20046500Old Putnam ExdPutnam Rd
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Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 2: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 3.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 3.000/NE.03/NE20054300Squaw Rock RdConnecticut Tpke
ADT 3.000/NE.08/SW20054500Squaw Rock RdConnecticut Tpke
ADT 3.000/NE.31/NE20054700Ross RdConnecticut Tpke
ADT 3.000/NW.14/N20052700Bailey Woods RdWauregan Rd
ADT 3.000/ N.02/NE20056600Shepard Hill Rd No 1Wauregan Rd
35Total Traffic Count Points reported:
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 5.000/ S.22/S200530600Dow RdI- 395
ADT 5.000/ S.04/NW2005124005th StNorwich Rd
ADT 5.000/ S.15/E20052400Spaulding RdPlainfield Pike
ADT 4.000/ S.03/N20059800Erin DrNorwich Rd
ADT 4.000/ S.03/E200549002nd StRailroad Ave
ADT 4.000/ S.07/E20056000Windsor AveRailroad Ave
ADT 4.000/ S.05/W20055400Church StRailroad Ave
ADT 4.000/ S.11/E20052800Gendron RdPlainfield Pike
ADT 4.000/ S.04/N200510300Gallup StNorwich Rd
ADT 4.000/ S.13/NW19973900May StCanterbury Rd
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Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 4.000/ S.1/NW20053200Starkweather RdPlainfield Pike
ADT 4.000/ S.08/N20058500Academy LnNorwich Rd
ADT 4.000/ S.01/S20055300Plainfield PikeStarkweather Rd
ADT 4.000/ S.06/NW20055100Gallup StAcademy Hill Rd
ADT 5.000/SE.16/NE19971800New RdPlainfield Pike
ADT 4.000/ S.04/W20053400Cedar LnAcademy Hill Rd
ADT 4.000/ S.08/S200527500Plainfield PikeI- 395
ADT 5.000/SE.13/N2005700Plainfield PikeEkonk Hill Rd
ADT 5.000/SE.16/NE20051900Ekonk Hill RdPlainfield Pike
ADT 5.000/SE.1/SW20052200Ekonk Hill RdPlainfield Pike
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Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 4.000/SW.13/NW20053100Old Canterbury RdCanterbury Rd
AADT 5.000/SW0/S19972800Elmdale RdS Canterbury Rd
ADT 5.000/SW.53/E20056100Lovell LnWestminster Rd
ADT 3.000/ S.12/N20057900Pickett RdNorwich Rd
ADT 4.000/SW.09/SE20055300Canterbury RdLovell Ln
ADT 4.000/SW.04/E20054700Old Plainfield RdLovell Ln
ADT 4.000/SW.26/NE20052600Old Black Hill RdBlack Hill Rd
ADT 5.000/SE.11/E20052300Church StSterling Rd
ADT 3.000/SW.09/NE20053200Sugar Brook RdBlack Hill Rd
ADT 4.000/SE.76/SE20052300Church StSterling Rd
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© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 2.000/SE.03/E20058800Railroad AveProspect St
ADT 2.000/SE.08/SE200510000Bitgood VillageProspect St
ADT 2.000/ S.24/N200530000Prospect StI- 395
ADT 4.000/SW.69/S20052600Riverview DrN Canterbury Rd
ADT 2.000/SE.06/SW20056900River StMain St
ADT 2.000/SE.06/SW20056200Church StMain St
ADT 2.000/ S.09/NW200511500Green Hollow RdE Main St
ADT 2.000/SE.03/W20053800Victoria DrN Main St
ADT 2.000/ S.15/E200510000Green Hollow RdE Main St
ADT 3.000/SE.13/W20053100Collelo AveN Main St
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Project Code:
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Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 1.000/ S.03/N200511400Morton LnMain St
ADT 2.000/SE.21/S200525700Prospect StI- 395
ADT 1.000/ S.01/NE20053800School St ExnBlack Hill Rd
ADT 1.000/ S.1/E20054200Torrey LnSchool St
ADT 1.000/ S.07/NW2005400Trout Hatchery RdCady Ln
ADT 2.000/SE.1/NE20052400Arnio DrLake St
ADT 2.000/ E.13/NE20051500Moosup Pond RdLake St
ADT 2.000/ E.09/NE20052600N Sterling RdSnake Meadow Rd
ADT 3.000/ E.05/NE20051200Pond Hill RdSnake Meadow Rd
ADT 1.000/ S.6/N20058100Shepard Hill RdPutnam Rd
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Project Code:
2210 OfPage Nielsen Solution Center 1 800 866 6511
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Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 3.000/ E.23/S2005900Pond Hill RdSnake Meadow Rd
ADT 0.000/NW.01/NW20055700Front StWauregan Rd
ADT 0.000/ N.09/N20055700Fountain StPutnam Rd
ADT 1.000/NW.09/NW20054400Maynard RdWauregan Rd
ADT 0.000/ N.14/S20056600Fountain StPutnam Rd
ADT 3.000/ E.08/N2005600Olearos Hill RdSnake Meadow Rd
ADT 1.000/NW.13/NW20053700Allen Hill RdWauregan Rd
ADT 2.000/NE.42/NE200527800Connecticut TpkeI- 395
ADT 3.000/NW.25/S20052200Beecher RdCanterbury Rd
ADT 1.000/ N.03/N20046500Old Putnam ExdPutnam Rd
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Project Code:
2211 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 3.000/NE.03/NE20054300Squaw Rock RdConnecticut Tpke
ADT 3.000/NE.08/SW20054500Squaw Rock RdConnecticut Tpke
ADT 3.000/NE.31/NE20054700Ross RdConnecticut Tpke
ADT 4.000/NE.09/N2005600Hubbard RdSnake Meadow Rd
ADT 3.000/NW.14/N20052700Bailey Woods RdWauregan Rd
ADT 3.000/ N.02/NE20056600Shepard Hill Rd No 1Wauregan Rd
ADT 3.000/NE.81/N200523500Providence PikeI- 395
ADT 5.000/NW.13/E20028300Windham RdHartford Rd
ADT 4.000/NW.17/W20057100Laurel Hill RdHartford Rd
ADT 4.000/NW.08/N20055500Winding RdCanterbury Rd
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Project Code:
2212 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 4.000/NW.12/NE20059200Putnam PlHartford Rd
ADT 5.000/NE.18/N2005900Cook Hill RdSnake Meadow Rd
AADT 4.000/NE.14/NW1997400Providence PikeS Frontage Rd
ADT 4.000/NE.09/W20056400McReynolds LnProvidence Pike
ADT 5.000/NE.21/W20057700S Frontage RdProvidence Pike
ADT 5.000/NE.06/NW20051100Horse Hill RdWestcott Rd
ADT 4.000/NE.03/N20056600E Franklin StProvidence Pike
ADT 4.000/NE.1/N200521600Providence PikeI- 395
ADT 4.000/NE.11/NW200510600I- 395Providence Pike
ADT 4.000/ N.2/S200510900Cady StWauregan Rd
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Project Code:
2213 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 4.000/NE.05/S200525000Providence PikeI- 395
ADT 4.000/NW.21/W20059900Prince Hill RdProvidence Rd
ADT 5.000/NE.05/S20052400Halls Hill RdWestcott Rd
ADT 4.000/ N.06/NW200514600Green Hollow RdProvidence Pike
ADT 4.000/ N.13/SE200517100Green Hollow RdProvidence Pike
ADT 4.000/NE.08/SW200523600E Franklin StI- 395
ADT 4.000/ N.02/W200512200Brickyard RdProvidence Rd
ADT 4.000/NE.08/NE200527600Knox AveI- 395
ADT 4.000/ N.03/W200515700Allen Hill RdProvidence Rd
ADT 5.000/NW.09/SE20053600Hyde RdPomfret Rd
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Project Code:
2214 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 4.000/ N.15/N200519700Providence RdProvidence Pike
ADT 4.000/ N.13/E200517200S Main StProvidence Rd
ADT 5.000/NE.06/SE20053200Cranberry Bog RdWestcott Rd
ADT 4.000/ N.05/SW200519700S Main StProvidence Rd
ADT 5.000/ N.02/N20051600Robertson AveGauthier Ave
ADT 4.000/ N.04/NE200510300Union StMain St
ADT 5.000/ N.04/SW20058500Academy StMain St
ADT 5.000/ N.06/N20051900Reynolds StGauthier Ave
ADT 5.000/ N.04/N200524800Reynolds StI- 395
AADT 5.000/ N.05/N19972500Westcott RdGauthier Ave
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Project Code:
2215 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Radius 3: 309 PUTNAM RD, DANIELSON, CT 06239-2003, 0.00 - 5.00 Miles
Cross Street Dist/DirType of CountTraffic Count Area Dist/DirCount YearCross StreetStreet
ADT 5.000/ N.16/E20056200Gauthier AveWestcott Rd
101Total Traffic Count Points reported:
Traffic Counts are proprietary to Nielsen and are derived from TrafficMetrix®, which contains proprietary and confidential property of Kalibrate Technologies, a Third Party Licensor, Copyright
2014. Unauthorized use, including copying for other than testing and standard backup procedures, is expressly prohibited.
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Project Code:
2216 OfPage Nielsen Solution Center 1 800 866 6511
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Wed May 06, 2015Prepared On:
Traffic Volumes
Average Annual Daily Traffic Northwest. Traffic counts taken heading northwestbound, seasonally adjusted to represent the average day of the year.
AADT Northwestbound
Average Annual Daily Traffic Southeast. Traffic counts taken heading southeastbound, seasonally adjusted to represent the average day of the year.
AADT Southeastbound
Average Annual Daily Traffic One-Way. Traffic counts heading on a one-way street seasonally adjusted to represent the average day of the year.
Average Annual Weekday Traffic One-Way. Counts heading one way seasonally adjusted to represent the average day of the year.
AAWDT One Way
Average Annual Daily Traffic Southwest. Traffic counts heading Southwestbound seasonally adjusted to represent the average day of the year.
AADT Southwestbound
Average Annual Daily Traffic Southbound. Traffic counts heading Southbound seasonally adjusted to represent the average day of the year.
AADT Southbound
AADT One-Way
Average Annual Daily Traffic Northbound. Traffic counts heading Northbound seasonally adjusted to represent the average day of the year.
AADT Northbound
Average Annual Daily Traffic Intersection. Traffic counts taken in the middle of an intersection to capture traffic from all directions. These counts are seasonally adjusted to
represent the average day of the year.
AADT Intersection
Average Annual Daily Traffic heading Eastbound. Traffic counts heading Eastbound seasonally adjusted to represent the average day of the year.
AADT Eastbound
Average Annual Weekday Traffic. Traffic Counts seasonally adjusted to represent the average weekday of the year. AAWDT counts only represent counts taken Monday-Friday.
AAWDT
Average Annual Daily Traffic. Traffic Counts seasonally adjusted to represent the average day of the year. AADT counts represent counts taken Sunday—Saturday.
AADT
Type of Count Glossary
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Project Code:
2217 OfPage Nielsen Solution Center 1 800 866 6511
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Wed May 06, 2015Prepared On:
Traffic Volumes
Average Daily Traffic Southwestbound. Traffic counts taken going Southwestbound that have not been seasonally adjusted.
ADT Southwestbound
Average Daily Traffic Southeastbound. Traffic counts taken going Southeastbound that have not been seasonally adjusted.
ADT Southeastbound
Average Daily Traffic Southbound. Traffic counts taken going Southbound that have not been seasonally adjusted.
ADT Southbound
Average Daily Traffic Peak Hour Intersection. Traffic counts taken for one hour at one or more peak traffic intersections that have not been seasonally adjusted.
ADT Peak Hour Intersection
Average Daily Traffic One-Way. Traffic counts on a one-way street that have not been seasonally adjusted.
ADT One Way
Average Daily Traffic Northwestbound. Traffic Counts heading Northwestbound that have not been seasonally adjusted.
ADT Northwestbound
Average Daily Traffic Northeastbound. Traffic counts heading Northeast that have not been seasonally adjusted.
ADT Northeastbound
Average Daily Traffic Northbound. Traffic counts heading Northbound that have not been seasonally adjusted.
ADT Northbound
Average Daily Traffic Manual. Counts that have been manually collected in the field by MPSI and converted to ADT counts.
ADT Manual
Average Daily Traffic Intersection. Counts that have not been seasonally adjusted and capture traffic from all directions in the middle of the intersection.
ADT Intersection
Average Daily Traffic Eastbound. Counts that have not been seasonally adjusted traveling eastbound.
ADT Eastbound
Average Daily Traffic. These counts are adjusted for day of the week but have not been seasonally adjusted.
ADT
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Project Code:
2218 OfPage Nielsen Solution Center 1 800 866 6511
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Traffic Volumes
Old Study
Traffic counts estimated by MPSI.
MPSI Estimate
Traffic counts updated by a source entity from an older year to a more current year based solely on historical data or local expertise.
Estimated Counts
Approach counts (counts on each directional leg of an intersection going into an intersection) or turning movement counts (each lane at an intersection including the
direction the cars are turning) factored to an average daily number.
Converted Approach Count
Average Weekend Traffic. Counts taken on the weekend only, representing weekend traffic Friday-Sunday.
AWET
Average Weekday Daily Traffic Westbound. Traffic counts that represent an average weekday of the year for Westbound travel but have not been seasonally adjusted.
AWDT Westbound
Average Weekday Daily Traffic Southbound. Traffic counts that represent an average weekday of the year for Southbound travel but have not been seasonally adjusted.
AWDT Southbound
Average Weekday Daily Traffic One-Way. Traffic counts that represent an average weekday of the year for traveling on a one-way road but have not been seasonally adjusted.
AWDT One-Way
Average Weekday Daily Traffic Northbound. Traffic counts that represent an average weekday of the year for Northbound travel but have not been seasonally adjusted.
AWDT Norhtbound
Average Weekday Daily Traffic Eastbound. Traffic counts that represent an average weekday of the year for Eastbound travel but have not been seasonally adjusted.
AWDT Eastbound
Average Weekday Daily Traffic. Traffic counts that represent an average weekday of the year but have not been seasonally adjusted.
AWDT
Average Daily Traffic Westbound. Traffic counts taken going Westbound that have not been seasonally adjusted.
ADT Westbound
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Project Code:
2219 OfPage Nielsen Solution Center 1 800 866 6511
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Wed May 06, 2015Prepared On:
Traffic Volumes
Winter Average Daily Traffic. Traffic counts deliberately taken during a winter’s peak volume but are not seasonally adjusted.
WADT
A source estimates traffic volumes without conducting any new actual traffic surveys. These estimates are created using local expertise or a percentage factor to increase or
decrease the counts.
Vendor Estimate
Summer Average Daily Traffic. Traffic counts deliberately taken during a summer’s peak volume but are not seasonally adjusted.
SADT
Traffic counts taken for one hour at one or more peak traffic periods in a 24-hour period for traffic traveling Westbound.
Peak Hour Westbound
Traffic counts taken for one hour at one or more peak traffic periods in a 24-hour period for traffic traveling Southbound.
Peak Hour Southbound
Traffic counts taken for one hour at one or more peak traffic periods in a 24-hour period for traffic traveling Northbound.
Peak Hour Northbound
Traffic counts taken for one hour at one or more peak traffic periods in a 24-hour period for traffic traveling Eastbound.
Peak Hour Eastbound
Traffic counts taken for one hour at one or more peak traffic periods in a 24-hour period.
Peak Hour
Counts that pre-date the creation of the TrafficMetrix database. Most of these are likely AADT or ADT but no information is available to support any firm assignment.
Prepared By: Prepared For:
Project Code:
2220 OfPage Nielsen Solution Center 1 800 866 6511
© 2015 The Nielsen Company. All rights reserved.
Wed May 06, 2015Prepared On:
Traffic Volumes
Appendix: Area Listing
Area Name:
Type: Radius 1 Reporting Detail: Component Reporting Level: Traffic Volume
Radius Definition:
1.00
309 PUTNAM RD
DANIELSON, CT 06239-2003
Center Point:
Circle/Band: 0.00
41.741584 -71.906421
-
Area Name:
Type: Radius 2 Reporting Detail: Component Reporting Level: Traffic Volume
Radius Definition:
3.00
309 PUTNAM RD
DANIELSON, CT 06239-2003
Center Point:
Circle/Band: 0.00
41.741584 -71.906421
-
Area Name:
Type: Radius 3 Reporting Detail: Component Reporting Level: Traffic Volume
Radius Definition:
5.00
309 PUTNAM RD
DANIELSON, CT 06239-2003
Center Point:
Circle/Band: 0.00
41.741584 -71.906421
-
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Project Code:
2221 OfPage Nielsen Solution Center 1 800 866 6511
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Traffic Volumes
Appendix: Area Listing
Project Information:
1
974937484Order Number:
Site:
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Project Code:
2222 OfPage Nielsen Solution Center 1 800 866 6511
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Wed May 06, 2015Prepared On:
Area Map
309 PUTNAM RD
DANIELSON,CT 06239-2003
Coord: 41.741584, -71.906421
Radius - See Appendix for Details
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Area Map
Appendix: Area Listing
Radius 1Type:
Area Name:
Radius Definition:
DANIELSON, CT 06239-2003 0.00 1.00
41.741584 -71.906421309 PUTNAM RD
Circle/Band:
Center Point:
-
Radius 2Type:
Area Name:
Radius Definition:
DANIELSON, CT 06239-2003 0.00 3.00
41.741584 -71.906421309 PUTNAM RD
Circle/Band:
Center Point:
-
Radius 3Type:
Area Name:
Radius Definition:
DANIELSON, CT 06239-2003 0.00 5.00
41.741584 -71.906421309 PUTNAM RD
Circle/Band:
Center Point:
-
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Survey or Site Plan
I. Executive Summary
II. FINANCIAL INFORMATION
Tax Bill
II. Financial Information
III. LEGAL DOCUMENTS
Licensee Agreement
III. Legal Documents
Title Information
III. Legal Documents
IV. ENVIRONMENTAL INFORMATION
Environmental Reports
IV. Environmental Information
Not Applicable
V. BID PACKAGE
Bid Instructions
V. Bid Package
Call NRC at 800-747-3342, ext 1502 for any additional help.
I.
Purchase and Sale Agreement Section:
Instructions and Information Required
Page 1
Paragraph 12
Signature Page Fill in Date above 'PURCHASER:'
Print Purchaser Entity underneath 'PURCHASER:'
Sign next to 'By:'
Exhibit A
Addendum
Seller Financing Addendum
II.(FAILURE TO MEET THESE REQUIREMENTS MAY RESULT IN YOUR BID BEING REJECTED.)
1.
2.
3.
4.
III. Where to Send your Bid:
NRC REALTY & CAPITAL ADVISORS, LLC350 W Ontario Street, 4th FloorCHICAGO, IL 60654ATTN: SALE 1502Bids must be received by 3:00pm CST on June 11, 2015
IMPORTANT:
Complete the Addendum to Purchase and Sale Agreement in its entirety (as applicable)
Initial next to 'Purchaser Initials'
SALE 1502 BIDDING INSTRUCTIONS
Check When Completed
Please complete the following checklist to complete theBid Package and Purchase and Sale Agreement
Fill in Purchaser Entity Information
Print Name next to 'Name:'
Fill in Purchase Price (Paragraph 1)
Fill in Purchaser's address, telephone and facsimile
Send the following items in an envelope to NRC:
1 signed ORIGINAL copy of the Purchase and Sale Agreement (NRC recommends that bidders also keep a copy for their records) AND
Filling out the Purchase and Sale Agreement ("PSA")
Send your bid using a carrier that issues a shipping tracking number such as FedEx, DHL or UPS.
What to Send to NRC:
A Cashiers or Certified Check Payable to: NRC REALTY & CAPITAL ADVISORS, LLC. (Refer to following page to calculate check amount)Company checks are NOT acceptable
1 completed Bid Form AND
Print Title next to 'Title:' (if applicable)
If pursuing seller financing, complete the Financing Addendum To Purchase And Sale Agreement in its entirety and attach it to the Purchase and Sale Agreement
1 signed ORIGINAL copy of the Financing Addendum To Purchase And Sale Agreement (if applicable)
Bid Type Description
Which store is your 1st Choice, and which store is your
2nd choice, etc. (Your order of preference)
How many sites you wish to purchase. (i.e. 2 of 5 or 3 of 7, etc.)
Example: You want to purchase 3 of 5 stores. You would then calculate 2.5% of the highest 3 Bids and submit that amount.
What to include in the Bid Envelope:
Bid TYPES
Bid deposit of 2.5 % or $10,000, whichever is greater, for the number of sites you want.
The Bid Form that states:
A Bid deposit. Please calculate your deposit as follows: 2.5% of the purchase price or $10,000, whichever is greater.
A Bid deposit for EACH property. Please calculate each deposit as follows: 2.5% of the purchase price or $10,000, whichever is greater.
Signed Purchase and Sale Agreement for EACH property.
Signed Purchase and Sale Agreement for EACH property.
The Bid Form stating which stores you are Bidding on.
Example: You want to purchase one of three stores. Your Bid on site #1 is $300,000, your Bid on site #2 is $400,000, and your Bid on site #3 is $500,000. Your Bid deposit would be 2.5% of $500,000 and would be equal to $12,500.
Bidding on more than one property but want to
purchase ONE property (or package) only
Signed Purchase and Sale Agreement for the property.
The Bid Form stating which store you are Bidding on.
A Bid deposit. Please calculate your deposit as follows: 2.5% of the highest single purchase price being submitted or $10,000, whichever is greater.
Signed Purchase and Sale Agreement for EACH property.
The Bid Form that states which store is your 1st choice, and which is your second choice, etc. (Your order of preference)
Multiple Preference
Bid:
Bidding on more than one property and want to
purchase more than one property but not all the
properties (or packages) Bid on (e.g. 3 of 5 sites)
Bidding on one property (or package) only
Bidding on more than one property (or package)
Single Bid:
Multiple Bid:
Preference Bid:
Bid Form
V. Bid Package
800-747-3342 ext. 1502 Page 1 of 1 www.nrc.com/1502
Single Bid (SI) ❏Multiple Bid (MU) ❏
Preference Bid (PR) ❏Multiple Preference Bid (MP) ❏ Number of Sites Wanted ________/________
Site Street Address City State Bid Amount Rank of Preference(for Preference Bids)
93 4350 Boston Post Road Pelham Manor NY
374 32 NY-59 Nyack NY
585 611 Main Street East Hartford CT
600 309 Putnam Road Wauregan CT
601 398 Main Street Southington CT
607 531 N Main Street Naugatuck CT
679 154 S Main Street Torrington CT
6722 1030 Blue Hills Avenue Bloomfield CT
28025 23 Main Street Fairfield ME
28207 686 Lisbon Street Lisbon Falls ME
28208 460-464 Warren Avenue Portland ME
28227 393 Western Avenue Augusta ME
30445 150 Plymouth Avenue Fall River MA
30610 581 Boston Road Billerica MA
30669 48 W Main Street Northborough MA
30672 19-21 W Boylston Street West Boylston MA
30693 109 Main Street Oxford MA
55246 135 Bridge Street Pelham NH
55258 1890 Dover Road Epsom NH
58112 600 White Plains Road Eastchester NY
58721 4357 Albany Post Road Hyde Park NY
58788 1224 NY-22 Brewster NY
58869 723 Mineral Springs Road West Seneca NY
68619 899 Pontiac Avenue Cranston RI
68622 1197 Newport Avenue Pawtucket RI
68646 4087 Tower Hill Road Wakefield RI
69016 1078 PA-61 Pottsville PA
69424 302 Highland Drive Mountville PA
69690 400 Buchanan Trail McConnellsburg PA
BID FORM
Please indicate your Bid Type, Bid Amount(s), and Rank of Preference (if applicable)
BID DUE DATE: 6/11/12015
Terms and Conditions of Sale
V. Bid Package
NRC SALE 1502 – GETTY REALTY CORP. TERMS AND CONDITIONS OF SEALED BID SALE
SEALED BID SALE. Getty Realty Corp. acting by and through its affiliates (“Seller”)
is offering to sell thirty three (33) properties located in Connecticut, Maine, Massachusetts, New Hampshire, New York, Pennsylvania and Rhode Island (individually, a “Property” and collectively, the “Properties”) by sealed bid sale. Seller has retained NRC Realty & Capital Advisors, LLC (“NRC”) to coordinate the offering and sale of the Properties.
BID DEADLINE. Sealed bids are required to be received by NRC not later than June
11, 2015, at 3:00 p.m. Central Time (the “Bid Deadline”) and sent to:
NRC Realty & Capital Advisors, LLC 350 W. Ontario, 4th Floor Chicago, Illinois 60654 ATTN: SEALED BID SALE 1502
OFFERED PROPERTIES.
Commercial Properties. Twenty seven (27) of the Properties offered for sale are former gas station properties which will be sold without the underground storage tanks and related equipment and piping (collectively, the “USTs”) used by prior tenants or licensees for gasoline storage and retail sales (the “Commercial Properties”). Twelve (12) of the Commercial Properties have USTs that have already been removed (the “Commercial No Tank Properties”). Fifteen (15) of the Commercial Properties have USTs that will be removed by Seller prior to the closing of the purchase of the Properties (the “Commercial Tank Properties”). Eight (8) of the Commercial Properties have building structures and operating businesses thereon, and nineteen (19) of the Commercial Properties have building structures but do not contain operating businesses. All Commercial Properties are offered with the fee interest in the real property.
Gas Station Properties. Six (6) of the Properties offered for sale are current gas station properties which will be available for sale with the USTs located at the Properties (the “Gas Station Properties”). Four (4) of the Gas Station Properties have building structures and operating businesses thereon and two (2) of the Gas Station Properties have building structures but do not contain operating businesses. If the USTs at the Property are not being operated for any reason, then such USTs may currently be in, or Seller may elect at any time prior to closing to place such USTs in, temporarily out-‐of-‐service status with the appropriate government agency and such USTs shall remain in such status at the time of closing. All Gas Station Properties are offered with the fee interest in the real property.
The Properties may in certain cases, as specifically identified in the
Brochure (as defined below), be encumbered by (a) a lease (the “Lehigh Lease”)
2
between Seller’s affiliate and Lehigh Gas Wholesale Services, Inc. (“Lehigh”) (each a “Lehigh Site”) or (b) a lease between Seller’s affiliate and NECG Holdings Corp. (“NECG”) (each an “NECG Site”) or (c) a lease (the “Global Lease”) between Seller’s affiliate and Global Montello Group Corp. (“Global”) (each a “Global Site”).
MINIMUM BIDS. Properties are offered with published minimum bids (“Minimum
Bids”). Seller may, but is not obligated to, accept the highest bid on a Property provided there is at least one bid received at the Bid Deadline, or best & final bid round (i) that is equal to or in excess of the published minimum bid and (ii) is a conforming bid. Seller may request that buyers verify source of funds to close at any time prior to closing.
TERMS AND CONDITIONS OF SEALED BID SALE
TERMS AND CONDITIONS. The offering and sale of the Properties in this sealed bid sale are subject to these Terms and Conditions of Sealed Bid Sale (the “Terms and Conditions”). Prospective bidders are advised to carefully review the Terms and Conditions. Failure to comply either as a participant in the sale or in the preparation or submission of a sealed bid may, in the sole discretion of NRC with Seller’s consent, cause a sealed bid to be deemed non-‐conforming (a “Non-‐conforming Bid”) and disqualified from consideration. NRC and Seller reserve the right to amend, supplement or modify these Terms and Conditions from time to time, without consent from or notice to prospective bidders. In the event the Terms and Conditions are inconsistent or conflict with any provision contained in the Purchase and Sale Agreement (“PSA”) relating to a Property, the provision of the applicable PSA shall govern and control to the extent necessary to resolve such inconsistency or conflict.
REFERENCED MATERIALS. The Terms and Conditions are set forth in three places
in the sealed bid sale materials: (i) in the sales brochure relating to the Properties (the “Brochure”); (ii) on the NRC website at http://www.nrc.com/1502 and (iii) in the Property Specific Package (“PSP”) for each Property. The Terms and Conditions are incorporated by reference in each PSA.
CONFIDENTIALITY. All information contained in the PSP and bid package or
otherwise provided by Seller or NRC is confidential and must be kept confidential by each person and entity receiving that information (a “Recipient”). By ordering a PSP or bid package, these persons and entities agree to this confidentiality. However, a Recipient may disclose information obtained from the PSP and bid package, on a “need-‐to-‐know” basis, to the following persons and entities, as long as those persons and entities agree to keep that information confidential: (a) the employees, officers, and directors of the Recipient or the Recipient’s affiliates, (b) third parties who are performing investigations and analyzing information to advise a Recipient regarding his or its bids, and (c) third parties providing a Recipient with financing for the purchase of a Property. These confidentiality provisions will terminate as to a Recipient only if and when it consummates its purchase of the Property.
3
DUE DILIGENCE
PRE-‐BIDDING DUE DILIGENCE. Bidders are solely responsible for conducting their own due diligence on Properties prior to bid submission by making visual inspections (as described in “Property Inspections” below) and by reviewing all information contained in the PSP. PSAs submitted as sealed bids become immediately enforceable by the parties upon Seller’s execution and may be terminated only pursuant to the terms thereof. In the event a successful bidder defaults on its obligations under an enforceable PSA, Seller has the right to retain such bidder’s Earnest Money Deposit (defined below).
PROPERTY SPECIFIC PACKAGES. A PSP for each Property is available for download
at http://www.nrc.com/1502. Each PSP contains, as available, property-‐specific physical, legal, environmental and financial due diligence information. A PSP may include, as applicable, tax bills, surveys or site plans, and remediation reports. Each PSP will include a title commitment from Fidelity National Title Insurance Company for an owner’s policy of title insurance that a purchaser of such Property (“Purchaser”) may obtain at closing at customary rates. With respect to the Gas Station Properties, each PSP shall include as part of the PSA a description of a policy of Pollution Legal Liability Insurance (“PLLI”) which every Purchaser of such Property will be required to obtain at closing by paying the premium for same, an estimate for which is set forth in the PSA. Each Purchaser of any Gas Station Property will be required to submit such documentation as is reasonably required by the insurance company selected by Seller to issue PLLI at closing in order to underwrite the PLLI commitment, including an application, financial statement and/or credit report. The Garden City, New York, office of Fidelity National Title Insurance Company will serve as escrow and closing agent for all Properties in the sale. PSPs are also available in hard copy at a cost of $35 per book and on CD-‐ROM at a cost of $25 per CD-‐ROM. PSPs may be purchased by calling NRC at (800) 747-‐3342, ext. 1502.
PROPERTY INSPECTIONS. Most closed Properties will be available for inspection by
appointment only. Please call NRC at (800) 747-‐3342, ext. 1502 to schedule an inspection. TAKE NOTE THAT NO PHASE II ENVIRONMENTAL OR OTHER SUBSURFACE INVESTIGATIONS OF ANY KIND AT THE PROPERTIES IS OR WILL BE PERMITTED. SELLER FINANCING
QUALIFICATION FOR SELLER FINANCING. A loan application package for Seller
financing is available for download on the sale website at http://www.nrc.com/1502. A bidder interested in obtaining Seller financing will have to complete the full loan application package and submit it to NRC, along with a loan application fee in the form of a check for $100 made payable to NRC Realty & Capital Advisors, LLC, no later than June 1, 2015. Seller will review the application package, complete a pre-‐qualification review prior to the Bid Deadline, and notify the bidder whether his request for Seller financing has received pre-‐approval or has been denied (a bidder receiving pre-‐approval hereinafter referred to as a “Pre-‐Qualified Bidder”). The $100 fee is non-‐refundable regardless of Seller’s decision and will not be applied to the purchase price if a Pre-‐Qualified Bidder is a
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successful bidder. If a Pre-‐Qualified Bidder is awarded a site at the Bid Deadline, Seller will conduct a final loan approval process as to such bidder. Seller will require additional documentation from such Pre-‐Qualified Bidder in order to complete this process.
LOAN TERMS. Seller will provide financing to a successful bidder under the
following terms: (1) for all Gas Station Properties with USTs that are 16 years old or older, 40% cash down payment, 9% interest, amortized over a 20 year term, with a balloon payment due at the end of year 7 of the loan, and (2) for all Commercial Properties and for Gas Station Properties with USTs that are 15 years old or newer, 25% cash down payment, 9% interest, amortized over a 20 year term, with a balloon payment due at the end of year 7 of the loan. In addition, for all Properties, Seller will charge 2% of the original loan amount at closing in consideration of such Seller financing. The 2% charge can be paid at closing or may be financed as a part of the loan. There will be no prepayment penalties on the loan. If the Purchaser is an entity, all principals of the entity will be required to personally guarantee the loan. As to all Properties, please refer to the PSA addendum related to Seller financing, and the form Promissory Note, form Mortgage or Deed of Trust, and form of Guaranty included with the PSA addendum, for additional terms and information.
MORTGAGE CONTINGENCY FOR SELLER FINANCING. In the event that a Pre-‐
Qualified Bidder has provided all information required by Seller and, after the Pre-‐Qualified Bidder is awarded a Property, Seller does not provide final loan approval for such successful bidder, such successful bidder will have the option to either proceed to closing on the Property without Seller financing or request that the PSA be terminated and have the Earnest Money Deposit returned. SEALED BID SUBMISSION
BID DEADLINE. Each sealed bid is required to be received by NRC as provided above by the Bid Deadline. A sealed bid received by NRC after the Bid Deadline is a Non-‐conforming Bid.
BID PACKAGE. The bid package (the “Bid Package”) for a Property contains bid submission instructions, the related PSA to be completed, signed and submitted with the sealed bid and a pre-‐qualification form. The Bid Package for each Property is contained in or sent with the related PSP. To obtain a Bid Package for a Property, a prospective bidder is required to order the related PSP from NRC.
PURCHASE AND SALE AGREEMENT. A sealed bid for a Property is made on the PSA contained in the related Bid Package, as described in more detail below. The PSA is required to be fully and correctly completed, without any modification and properly signed. A sealed bid received in any other format or on a PSA that is incomplete, incorrect or modified in any respect is a Non-‐conforming Bid. Instructions on how to complete the PSA in compliance with the Terms and Conditions are contained in the Bid Package.
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BID DEPOSIT. Each sealed bid is required to include an initial bid deposit (the “Bid Deposit”) equal to the greater of (i) 2.5% of the bid price, or (ii) $10,000. The Bid Deposit is required to be made by certified or cashier’s check or money order made payable to NRC Realty & Capital Advisors, LLC or wire transfer of immediately available funds to NRC’s escrow account (wire instructions may be obtained from NRC). Personal or company checks will not be accepted. A sealed bid that is submitted without a Bid Deposit that complies with this paragraph is a Non-‐conforming Bid.
NON-‐CONFORMING BIDS. NRC reserves the right, with Seller’s consent, to disqualify from consideration and reject any Non-‐conforming Bid. After a Non-‐conforming Bid is rejected, NRC will return the related Bid Deposit by certified mail within seven business days after the later to occur of (i) the date of such rejection, and (ii) the date that the related funds have cleared NRC’s escrow account. SEALED BID EVALUATION AND AWARD
EVALUATION AND AWARD OF SEALED BIDS. NRC will present all sealed bids
received by the Bid Deadline to Seller for consideration. Seller will review all sealed bids, other than rejected Non-‐conforming Bids. Seller may accept or reject sealed bids and may solicit a best and final offer (“BAFO”), in its sole and absolute discretion. Seller and NRC reserve the right to request and review additional financial information relating to a bidder and/or other information confirming a bidder’s ability to close a sale. All sales are final upon acceptance and execution by Seller of the related PSAs. Seller will attempt to accept or reject all sealed bids within twenty (20) business days of the Bid Deadline, and attempt to accept or reject all BAFOs within twenty (20) business days following the date the BAFO is received by NRC, after which Bid Deposits will be returned to unsuccessful bidders.
PROHIBITION ON WITHDRAWING SEALED BIDS. By submitting sealed bids and/or
BAFOs, bidders agree that such offers are irrevocable, binding purchase offers that remain in effect for a period of twenty (20) business days following the Bid Deadline, in the case of sealed bids, and twenty (20) business days following the date the BAFO is received by NRC, in the case of BAFOs.
EFFECTIVE DATE OF AWARD OF BID. The effective date of the award of a sealed bid is the date on which Seller signs the related PSA. NRC will notify successful bidders of awards by facsimile or email; however, the awards are not legally binding or enforceable against Seller until the date on which Seller delivers a fully signed PSA to the successful bidder, which delivery may be transmitted by fax or email.
ADDITIONAL EARNEST MONEY REQUIREMENT. Within two (2) business days after receiving written notice from NRC of Seller’s acceptance of a sealed bid, a successful bidder is required to deposit sufficient additional funds (the “Additional Bid Deposit”) that, when added to the initial Bid Deposit, equals (a) with respect to the Commercial Tank Properties (i) $50,000 or (ii) 10% of the purchase price of the accepted sealed bid, whichever is greater or (b) with respect to the Commercial No Tank Properties and Gas Station
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Properties (i) $25,000 or (ii) 10% of the purchase price of the accepted sealed bid, whichever is greater. The Additional Bid Deposit is required to be made by certified or cashier’s check or money order made payable to NRC Realty & Capital Advisors, LLC or wire transfer of immediately available funds to NRC’s escrow account (wire instructions may be obtained from NRC). Personal or company checks will not be accepted. The Bid Deposit together with the Additional Bid Deposit is collectively referred to herein as the “Earnest Money Deposit”. The Earnest Money Deposit will be held by NRC for the benefit of the parties and without obligation to invest such funds. NRC reserves the right to allocate any of a bidder’s excess Bid Deposits on other Properties to the Earnest Money Deposit of an accepted sealed bid in connection with satisfying the Additional Deposit requirement of this paragraph.
SELLER’S RESERVATION OF RIGHTS. Seller expressly reserves the right, in its sole
discretion, at any time and without giving reasons therefor, to reject any bid, postpone, extend, or cancel the Bid Deadline, or withdraw any Property from the sealed bid sale at any time without notice. Seller further reserves the right, in its sole discretion, without notifying any bidder, giving any bidder similar opportunity, or re-‐offering a Property, to negotiate the terms of a bid, to overlook minor inconsistencies or nonconformance in a bid, to extend any deadlines or to accept any bid for any reason, whether or not such bid is the highest purchase price. Seller also reserves the right to terminate, at any time, further participation in the process by any party or all parties, to modify any of the rules or procedures set forth herein or any other procedures without prior notice or assigning any reason therefor, to reject any or all proposals, or to terminate the process contemplated hereby. Seller reserves the right to take any action, whether in or out of the ordinary course of business, which Seller, in its sole discretion, deems necessary or prudent in the conduct of its business. Seller may require verification of funds available to close on offers before accepting any bid. These Terms and Conditions are subject to modification as may be required by the laws of the State or Commonwealth in which a Property is located. PURCHASE AND SALE AGREEMENT TERMS
PURCHASE AND SALE AGREEMENT. The purchase of each Property will be subject to and consummated pursuant to the provisions of the applicable PSA. Each PSA will include, as an exhibit, the form of deed that will be delivered at closing. The deed for each of the Properties will contain a prohibition with respect to use of the Property for residential purposes, agricultural purposes, food processing purposes and with respect to installing water wells. In addition, with respect to Commercial Properties, such deed will contain restrictions with respect to use of the Property as a gas station for a period of thirty (30) years, and with respect to the Gas Station Properties, such deed will allow for the Property to be used as a gas station provided that the Purchaser maintains PLLI for a period commencing on the closing date and ending twenty (20) years following closing or such earlier date that the USTs have been permanently removed from the Property in accordance with applicable law. Each PSA for a Gas Station Property shall also require execution and delivery at closing of a Bill of Sale with respect to the transfer of the USTs. Certain PSA provisions have been summarized herein for the benefit of prospective
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bidders, including, without limitation, certain environmental terms. These summaries do not restate the PSA provisions and are not intended to be full, complete and accurate descriptions thereof. Accordingly, bidders may not rely on these summaries as enforceable provisions. The applicable PSA is the sole agreement relating to rights, remedies and obligations of each party in connection with the purchase of a Property.
CLOSING DATES AND TRANSFER OF POSSESSION. Successful bidders of the Commercial Tank Properties will be required to close escrow within ninety (90) days of the effective date of the PSA. Successful bidders of the Commercial No Tank Properties other than NECG Sites will be required to close escrow within thirty (30) days of the effective date of the PSA. Successful bidders of the (i) Commercial No Tank Properties that are NECG Sites and (ii) Gas Station Properties will be required to close escrow within sixty (60) days of the effective date of the PSA. Seller may adjourn the closing date for up to an additional one hundred twenty (120) days with respect to all Properties.
Transfer of possession of all Properties will occur upon the escrow closing and
subject to the rights of possession, if any, of occupants of the Property.
TRANSFER OF TITLE. All Properties will be conveyed by special or limited warranty deed. Real estate taxes will be current to the date of closing. All Properties will be conveyed “AS IS, WHERE IS, WITH ALL FAULTS” regarding any conditions affecting the Properties, with no representations or warranties implied or given, but subject only to retention of certain environmental matters (if any) as described below.
DE-‐IDENTIFICATION. The sale of the Properties does not include the sale of or any rights to trademarks or branding currently associated with the sale of gasoline or other goods at the Properties. Prior to closing, Seller shall remove, as necessary in its sole discretion, from the Properties, all signage, advertising and other displays located at the Property, containing any trademarks or branding associated with the sale of gasoline (including, but not limited to the Getty® brand). In the event that Seller does not remove all trademarks or brand images prior to closing, the same must be removed or covered by Purchaser unless Purchaser has separately contracted with the trademark or brand owner for continued use of the brand after closing.
BUYER'S PREMIUM. At closing each successful bidder will pay, in addition to the
purchase price, an amount equal to 2% of the purchase price of the Property. CLOSING COSTS. Purchaser will pay for the cost of all title insurance policies issued
at closing, recording charges, transfer tax and the costs of any money lender’s escrow. Purchaser and Seller shall equally share the costs of the closing agent’s escrow fees. If a Purchaser elects to purchase title insurance for any Property, such Purchaser will be required to purchase the title insurance from Fidelity National Title Insurance Company based on the title commitment provided with the PSP. With respect to the Gas Station Properties, at closing the Purchaser will be required to pay (i) the premium for and bind a PLLI policy made available as part of the PSP, and (ii) reasonable fees associated with the
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preparation, and filing with the applicable governmental authorities, of UST transfer documentation relating to transfer and re-‐registration of the USTs.
BROKER PARTICIPATION. A fee equal to three percent (3%) of the gross selling
price of each Property, net of Buyers Premium, will be paid by NRC upon the closing of escrow of the sale of such Property pursuant to the PSA to any licensed broker or agent whose registered prospect consummates the sale. A BROKER THAT REPRESENTS A CURRENT LICENSEE OF A PROPERTY WILL NOT BE ELIGIBLE FOR THIS FEE. Brokers must register their prospect(s) with NRC no less than three (3) days prior to the Bid Deadline by completing the Co-‐Op Broker registration in the form provided by NRC without modification, and faxing it to NRC at 312.278.6900, referencing Sale 1502. All such Co-‐Op Broker registrations are not effective until accepted in writing by NRC and NRC shall have the authority to determine if any registration is accepted based upon the requirements of these Terms and Conditions and the Co-‐Op Broker registration document, in its sole judgment. No registration will be accepted by NRC and no commissions will be paid in connection with any prospect who has previously expressed interest in the Property with Seller or its agents or who has been contacted by NRC. No commissions will be paid on any Property to brokers participating as a principal in the purchase of the Property or who has a direct or indirect ownership interest in Purchaser, and an affidavit may be required stating that the broker is acting solely as broker and not as Purchaser and has no direct or indirect ownership interest in Purchaser. NO OTHER FORM OR ORAL REGISTRATION IS PERMITTED.
DUAL AGENCY ACKNOWLEDGMENT, CONSENT AND WAIVER. NRC is acting as the
marketing and sealed bid sale coordinator for Seller in connection with any offering or sale of Properties pursuant to these Terms and Conditions and in no event is NRC representing Purchaser as its agent in connection with any transaction contemplated or consummated in connection herewith. Notwithstanding the immediately preceding sentence, if it is determined that NRC is acting as an agent for Purchaser hereunder, Purchaser and all parties claiming by, through or under Purchaser hereby affirm and acknowledge that NRC is not acting in any manner which shall result in a dual agency, and Purchaser hereby consents to all such actions of NRC and disclaims, waives and forever releases NRC from any and all obligations that might be imposed on an agent in connection with any transaction hereunder and Purchaser hereby consents to same.
PROPERTIES WITH TENANTS OR LICENSEES. With respect to Lehigh Sites, Global
Sites, and NECG Sites, severance of the Lehigh Lease or the Global Lease or the NECG Lease, as applicable, shall be a condition to Seller’s obligation to close escrow and to transfer title. If severance of the Lehigh Lease or the Global Lease or the NECG Lease has not occurred as of the closing date, as same may be extended, then either party may terminate the PSA with written notice to the other. Seller has obtained full assurances from Lehigh, Global and NECG and anticipates their complete cooperation in connection with such severance as and when requested prior to closing, but Seller makes no representations or warranties to prospective bidders with respect to same.
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Title to all Properties shall be conveyed to Purchasers pursuant to the PSAs subject to permitted exceptions, which in the case of Properties other than Lehigh Sites and Global Sites will include all existing occupancies. Properties other than Lehigh Sites and Global Sites which are subject to written license agreements shall be transferred to Purchasers subject to all rights of possession held by the licensee or any other party occupying the Property by, through or under such licensee. Upon closing, unless a prospective bidder elects to terminate the license agreement as discussed below, Purchaser, and Seller or NECG (as applicable), shall execute and deliver a written assignment and assumption of license agreement in the form attached to the PSA, except that such assignment is not available with respect to Lehigh Sites and Global Sites which will be sold free of occupancies. Purchaser and Seller shall ratably prorate all rents and occupancy charges, except that if the Purchaser is the current licensee or in any way affiliated or related to the current licensee, then the Purchaser will be responsible for the payment of all accounts receivable which are owing under the license agreement. If the Purchaser is the current licensee or in any way affiliated or related to the current licensee, then the Purchaser will be responsible for any violations which arose during, and as a result of, the licensee’s occupancy.
TERMINATION OF LICENSE – PURCHASER’S ELECTION. A prospective bidder for a
Property with a current licensee must indicate in the bid form whether such bidder would like the month-‐to-‐month license agreement applicable to such Property terminated, except with respect to Lehigh Sites and Global Sites which will be sold free of occupancies. In the event that a prospective bidder becomes the Purchaser and has elected that the license agreement be terminated, Seller or NECG, as applicable, will deliver a written notice of termination to the licensee simultaneously with the closing and will provide a copy of such notice to Purchaser upon delivery of such notice. The notice will provide that the licensee must vacate the Property, in most cases, by a date which is thirty (30) days after receipt of the notice. Seller does not represent or warrant sufficiency of the notice and will not be required to dispossess any licensee or other occupant. Purchasers assume all risk of entering into any new agreement with, or dispossessing, any licensee or other occupant.
ENVIRONMENTAL INFORMATION. Each PSP will contain any site-‐specific
information provided by Seller regarding the environmental condition of the Property to which such PSP relates. Such information may include current remediation or monitoring reports, or closure reports, or other information.
INSPECTION OF USTS. With respect to Gas Station Properties, Purchasers of such
Properties will, subject to the provisions of the PSA, be permitted to conduct tank tightness tests on the USTs to assure that they test tight, as a condition to such Purchaser’s obligation to closing and transfer of title. In the event that the USTs are not being operated, for example if the Property becomes vacant or the gas portion of the Property is no longer being operated, then the tank tightness test will be limited solely to air pressure testing of the USTs without petroleum product contained therein and testing of mechanical equipment associated with the gas distribution system will not be permitted. If the USTs fail such tank tightness test, then Seller may, at its option, terminate the PSA or repair the
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USTs to address the indicated tightness issue prior to closing. ENVIRONMENTAL MATTERS. Environmental matters in connection with the sale of
a Property are provided for in the PSA (and relevant exhibits attached thereto) applicable to such Property. The following is a summary of certain of these environmental provisions. This summary is not intended to be exhaustive and is subject in all cases to the actual terms and conditions of the PSAs. Prospective bidders may not rely upon any part of these summaries and should refer to the PSA as the sole document governing the rights and responsibilities of the parties.
Commercial Properties. Responsibility for environmental liabilities and
indemnification for environmental matters for each Commercial Property are allocated as of closing as provided in the PSA for that Commercial Property. For a Commercial Property with respect to which (i) there is no known contamination that is required by law to be remediated, or (ii) a “No Further Action” letter or similar closure notice has been issued by the applicable governmental agency (or other regulatory closure has been attained) with respect to contamination that has been remediated, the Purchaser will be purchasing such Commercial Property on an “AS IS, WHERE IS” basis with respect to environmental matters and will be responsible for any contamination found at such Commercial Property after the closing, irrespective of the date such contamination occurred. For a Commercial Property where there is known contamination being remediated (which may be contamination which is first discovered in connection with the removal of the USTs at Commercial Tank Properties), the Purchaser will be purchasing such Commercial Property on an “AS IS, WHERE IS” basis as described above in this paragraph, except that the Seller will retain responsibility for remediation in accordance with applicable law of such known contamination (as shown in Seller’s most recent environmental report(s) and/or tank closure report regarding same) until a “No Further Action” letter or similar closure notice has been issued by the applicable governmental agency, or other closure is attained. Purchaser will indemnify Seller for all environmental conditions at a Commercial Property other than those for which Seller retains responsibility. Environmental covenants and indemnities will be restated in the deed.
Gas Station Properties. Responsibility for environmental liabilities and indemnification for environmental matters for each Gas Station Property are allocated as of closing as provided in the PSA for that Gas Station Property. For a Property where (A) there is no known contamination that is required by law to be remediated, or (B) a “No Further Action” letter or similar closure notice has been issued by the applicable governmental agency (or other regulatory closure has been attained) with respect to contamination that has been remediated, the Purchaser will be purchasing such Gas Station Property on an “AS IS, WHERE IS” basis with respect to environmental matters except that Seller will retain responsibility to remediate in accordance with applicable law (until a “No Further Action” letter or similar closure notice has been issued by the applicable governmental agency, or
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other closure is attained) any contamination which (i) occurred prior to closing, and (ii) is discovered by Purchaser within five years of the closing date other than as a result of a voluntary investigation (“Seller Pre-‐Existing Unknown Contamination”). For a Gas Station Property where there is known contamination being remediated, the Purchaser will be purchasing such Gas Station Property on an “AS IS, WHERE IS” basis with respect to environmental matters except the Seller will retain responsibility to remediate in accordance with applicable law (until a “No Further Action” letter or similar closure notice has been issued by the applicable governmental agency, or other closure is attained) (1) such known contamination (as shown in Seller’s most recent environmental report(s) regarding same), and (2) the Seller Pre-‐Existing Unknown Contamination. Purchaser will be responsible for and will indemnify Seller for all environmental conditions at a Gas Station Property other than contamination for which Seller is responsible under the PSA and such indemnity will be restated in the deed. With respect to the Gas Station Properties, the Purchaser will be required to remove and replace the USTs upon the earlier to occur of (x) when the UST reaches 35 years old, and (y) when applicable state or federal regulations so require. When USTs are removed, In certain cases, Purchaser will give Seller notice in order to allow Seller an opportunity to be present at the UST removal.
Post Closing Remediation Access. With respect to all Properties as to which
Seller has retained responsibility for remediation of contamination following the closing date, Seller and its contractors and designees shall be permitted a right of access to such Properties to conduct the remediation activities and such right of access shall be restated in the deeds.
DISCLAIMER. Seller and NRC and their respective members, shareholders,
directors, officers, employees, state licensed real estate agents, parents, subsidiaries, and affiliates (collectively, “Representatives”), disclose that they may not have complete knowledge of the physical, environmental or economic characteristics of the Properties. Accordingly (except as otherwise specifically stated in a PSA), Seller and NRC, and their Representatives disclaim any warranty, guaranty or representation, express or implied, including, without limitation, any warranty, guaranty or representation, express or implied relating to (a) the condition or state of repair of the Properties, including, without limitation, any condition arising in connection with the generation, use, transportation, storage, release, or disposal of petroleum products, toxic or hazardous substances, on and under, above, upon, or in the vicinity of the Properties, and its impact on water, soil and geology, (b) the suitability of the Properties and their water, soil and geology for any activities and use that Purchaser may elect to conduct; (c) the extent of any right of way, lease, possession, lien, encumbrance, easement, license, reservation, or condition in connection with the properties; (d) the compliance of the Properties or their operation with any applicable laws, ordinances, or regulations of any government or other body, including without limitation, compliance with any land use, Americans with Disabilities Act, wetland, or zoning law or regulation, or applicable environmental or coastal laws, rules, ordinances, and regulations; (e) title to or the boundaries of the Properties; and (f) the
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physical condition of the Properties, including, without limitation, the structural, mechanical and engineering characteristics of the improvements to the Properties. Except as stated above in these Terms and Conditions and as expressly set forth in the applicable PSA, the sale of each Property is on an “AS IS, WHERE IS, WITH ALL FAULTS” basis. Neither Seller, NRC nor any of their Representatives make any warranty or representation, express or implied, or arising by operation of law, including, without limitation, any warranty of condition, habitability, or merchantability or fitness for a particular purpose, with respect to the Properties. Bidders will bid for and buy the Properties based on their own investigations. By accepting title to any Property, a Purchaser acknowledges that it has conducted any investigation that it has considered necessary or advisable and that it is not relying upon any representations of Seller, NRC or either of their Representatives. The materials and information concerning the Properties contained in the sales brochure, postcards, other brochures, the PSP, and the Bid Package, and any other information provided by Seller and NRC or their Representatives, is based in part upon information and materials obtained from sources considered reliable, without independent verification. Bidders must not base their bids upon that information or environmental studies, repair estimates, other studies, or information that Seller or NRC provides, but must rely solely on their own estimates and studies. No warranty or representation, express or implied, is made by Seller, NRC, or either of their Representatives, as to the accuracy or completeness of the information provided to bidders.
Interwoven\3579691.5
Purchase and Sale Agreement
V. Bid Package
Financing Addendum to Purchase and Sale Agreement
V. Bid Package
