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News

Hilco Real Estate Announces the Sale of Bluestone Quarry and Marcellus and Utica Shale Natural Gas Rights in Susquehanna, Pennsylvania

Oct 19, 2017

NORTHBROOK, IL (October 19, 2017) - Hilco Real Estate LLC announces November 15, 2017 as the Qualifying Bid Deadline for the sale of a 200± AC private mountaintop manufacturing facility and its adjoining natural gas units located in Susquehanna, Pennsylvania.

The expansive property consists of two fully functional quarries producing highly desirable Pennsylvania Bluestone; multiple manufacturing, warehouse and office buildings; and three Marcellus Shale income-producing natural gas units that are leased to a national gas operator. The structures total over 54,000 SF of industrial space and include piped stations for air compressors, liquid oxygen and propane are included throughout the site. A 100-ton truck scale and 480 V-3 Phase power also compliment the facilities.  

Situated in the productive Marcellus Shale region, the largest source of natural gas in the nation, the property is set to reap the benefits of the natural gas trend. The Marcellus Formation is a massive area known for gas extraction, stretching across Pennsylvania and West Virginia into southeast Ohio and upstate New York. Susquehanna County is considered the second highest gas-producing county within Pennsylvania, which has resulted in significant investments to expand the current pipeline network, including construction of the Bluestone Pipeline, Constitution Pipeline and Millennium Pipeline (which feeds into New York City). With the recent developments and interest in this resource and its location source, the property’s opportunities for natural gas drilling may offer tremendous current and future income potential, and there are already plans to add additional wells on these three gas units which could increase the royalties paid to the owner of this property.

Historically known for building train parts, Susquehanna County is more currently known for the local quarries which produce sought-after Pennsylvania Bluestone. Much of the unique layered sandstone is found in northeastern Pennsylvania and is prized for its architectural uses, such as patios, walkways, wallstone and other landscape features due to its strength and durability. There also exists a strong market for Bluestone aggregate.

The property sits just two miles from Route 171 and roughly six miles from Interstate 81 and is accessible to several arterial roadways, including Route 79 and Route 92, as well as rail centers in Philadelphia, New York and New Jersey, and numerous ports along the eastern shore.

Jeff Azuse, Senior Vice President with Hilco Real Estate said, “This sale offers a unique opportunity for a savvy investor to take advantage of not only buying a beautiful property, but a property that has considerable value in its mineral and gas rights with a currently operating bluestone quarry and currently producing natural gas wells.”

Mr. Azuse continued, “The Marcellus and Utica Shales, of which this property is part of both, are two of the largest shale basins in North America and account for a significant amount of the natural gas production in the United States.  Although difficult to predict, the future gas production on this site could be very significant. ”

The Qualifying Bid Deadline is scheduled for Wednesday, November 15, 2017. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CDT) on the day of the deadline to be considered. Interested buyers can submit their bids via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to smadura@hilcoglobal.com.

For further information on the property, an explanation of the sale process and Terms of Sale, and to obtain access to the Virtual Deal Room containing all the property due diligence, please visit HilcoRealEstate.com or reach out to (855) 755-2300. Hilco makes no representations or warranties with respect to the property.  Any statements and information with respect to the property were provided by the Seller and other sources deemed reliable and are subject to the buyer’s due diligence.

For more information about this or other properties available for sale, please visit HilcoRealEstate.com.

 

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