Online Auction Scheduled for Oct. 23-24
Hilco Real Estate, LLC announces the portfolio sale of 20 former Family Dollar (NYSE: FDO) retail locations and land parcels for the North Carolina-based retailer.
The assets in this portfolio are located throughout the country and consist of sites in Alabama, Arizona, Florida, Georgia, Illinois, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Oklahoma, Texas and West Virginia. Property highlights include a 7,400± sf freestanding building set along a prime retail corridor in downtown Rocky Mount, NC; a 7,600± sf retail building with frontage along US-27 in Leesburg, FL; and a well-located 7,500± sf freestanding building on Main Street in Shelbyville, IL across from a McDonald’s restaurant. A comprehensive list of the assets within this portfolio, including property descriptions and due diligence information, is available to view and download at:
The online auction will open at 9:00 a.m. CT on October 23, 2018 and will close at 3:00 p.m. CT on October 24, 2018. To bid during the auction, buyers will need to register online at Hilco Real Estate’s website (http://hilcorealestate.com/FamilyDollar). Once registration is completed, buyers will receive email verification. One on-site inspection date will be held for buyers to inspect the improved properties on October 18 from 11:00 a.m. to 1:00 p.m. (in accordance with local time zones).
Commenting on the portfolio of properties being sold, Jeff Azuse, Senior Vice President of Hilco Real Estate, said, “With over 8,000 locations within their portfolio, and the second largest discount retailer of their kind, Family Dollar has perfected the practice of small-town site selection. While these are surplus assets, many are positioned at the ‘main and main’ of the cities in which they are located.”
Mr. Azuse continued, “Another important consideration for buyers is that the average size of a Family Dollar store is approximately 7,000 square feet. This versatile footprint makes these assets ideal for a variety of retail reuses. The auction represents a tremendous opportunity for savvy investors or end users to pick up one or more of these locations!”
For more information about bid qualifications, terms of sale, further details about the properties available, or an explanation of the auction process, please visit http://HilcoRealEstate.com/FamilyDollar or contact a member of our transactional team at (855) 755-2300.