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News

Hilco Real Estate Announces the Bank-Directed Sale of Two Warehouse and Manufacturing Facilities in Houston, Texas and Ames, Iowa

Oct 09, 2019

Two Warehouses for Sale

 

Hilco Real Estate, LLC announces November 7, 2019 as the bid deadline for the sale of two warehouse and manufacturing facilities in Houston, Texas and Ames, Iowa. Both buildings can be purchased as turnkey facilities or separately from the in-place machinery and equipment. If not purchased together with the real estate, the machinery and equipment will be sold separately via online auction ending November 21 12:00 pm (CT); therefore, turnkey buyers are encouraged to submit offers by the November 7 deadline.

Sitting on 2.3± acres, the 24,500±-square-foot Houston facility features clear heights from 26 to 56 feet, one dock-high door with leveler, three drive-in doors and 4,500± square feet of office space. Recently constructed in 2012, this building has many potential uses, including dry storage, manufacturing, research and development and warehousing. The site is in a key location, as it is only one mile south of the Sam Houston Tollway, which has encouraged many large industrial users such as Home Depot Distribution, Foxconn Assembly, Aramark, Serta Simmon Mattress and SEC Energy to locate around this property.

The Ames facility is comprised of 10 structures that total 81,697± square feet and sits on 22.3± acres. There are various clear heights from 14 to 37 feet, six-inch reinforced concrete floors, six drive-in doors, two dock-high doors with levelers and 5,700± square feet of office space. Like the Houston facility, this property has many potential uses including manufacturing, research and development and refrigeration/cold storage. The property is located along U.S. 30, 1.5 miles from Interstate 35 (combined 76,500+ VPD) and within a five-hour drive of Chicago, Des Moines, Kansas City, Minneapolis and Omaha/Lincoln. Home to Iowa State University, the area has a healthy and diverse economy, with companies such as 3M, Barilla, BASF and Syngenta located here. A 730-acre industrial development – Prairie View Industrial Center – is located directly north of the subject property and is currently under option and available for development.

These offerings also feature well-maintained chemical and food ingredient processing machinery and equipment that was used for guar gum production. The auction will include Aeroglide ovens and cooling tunnels, Marion paddle mixers, ribbon blenders, autoclaves, dryers, powder processing equipment and production support equipment. The majority of the equipment at the Ames location is food-grade.

Jeff Azuse, Senior Vice President for Hilco Real Estate, stated, “Hilco is excited to be marketing these recently built or renovated buildings that are located in well-trafficked industrial corridors near metro areas with strong local economies.”

Azuse continued, “With office space, warehousing and dry and cold storage capabilities, these properties have so many potential end uses, we anticipate significant interest from both investors and users for these buildings. Combine this with the fact that this sale is being directed by the lender, and buyers have a tremendous investment opportunity that is second to none within these respective markets.”

The offer deadline for the real estate is scheduled for November 7, 2019; however, offers prior to the deadline are encouraged. Offers may be submitted for the real estate alone, or inclusive of the existing machinery and equipment. Offers must be delivered to the email or offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. On-site real estate inspections will take place at the Houston facility on October 16 and October 30 at 12:00 p.m. (CT). On-site real estate inspections will take place at the Ames facility on October 17 and October 31 at 1:00 p.m. (CT). For more information regarding site viewings, please contact Ed Beck at ebeck@hilcoglobal.com. Interested buyers can submit their offers via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to ebeck@hilcoglobal.com.

Machinery and equipment will be sold via online auction. First lots will begin to close at 12:00 p.m. (CT) on November 21, if not purchased by the November 7 deadline.

For more information about the machinery and equipment or the online auction, visit Hilco Industrial or contact Mark Reynolds by phone at (205) 403-5942 or by email at mreynolds@hilcoglobal.com.

For further information on the property, an explanation of the sale process, terms of sale and to obtain access to due diligence for either property, please visit the Houston facility’s virtual deal room here and the Ames facility’s virtual deal room here, or call (855) 755-2300.

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