Hilco Real Estate Announces Auction Date For The Bank-Directed Sale Of A 41,656±-Square-Foot Retail/Flex Warehouse In Tuscaloosa Area

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Sep 24, 2019, 15:27 ET

NORTHBROOK, Ill., Sept. 24, 2019 /PRNewswire/ -- Hilco Real Estate, LLC announces Thursday, October 10, 2019 as the online auction date for the bank-directed sale of a well-located 41,656±-square-foot office retail warehouse building in the Tuscaloosa area.

Constructed in 2010, this premium building is situated on 2.94± acres and features 18-foot ceiling heights, 70± parking spaces, central HVAC, a security system, metal roof, sprinkler system and loading dock. The property was a previous furniture warehouse, making it a perfect location for a retail showroom or logistics and warehousing facility. The property previously appraised for $2,580,000 in March 2019.

Located across the street from Tuscaloosa National Airport, and surrounded by national retailers Lowe's and Walmart Supercenter, this property is ready to benefit from the ongoing growth in the immediate area. There are various other national and international manufacturing and logistics companies nearby, including Eberspaecher, Hanna Steel, Metalsa, Warrior Tractor, WTI Transport and ZF. Situated in one of Alabama's strongest and diverse economic markets, Tuscaloosa is home to the University of Alabama, which houses 38,563 students, as well as Mercedes Benz U.S. International, which has 3,500+ employees with another 600+ to be added, according to USA Today. The Tuscaloosa Chamber of Commerce also states the city's 3.1% unemployment rate is well below the state and national rate, which speaks to the area's stable and capable workforce.

With an innovative public-private partnership in place, Tuscaloosa County has emerged as one of Alabama's most dynamic and diverse economies. The Tuscaloosa/Birmingham region is among the best places in the nation to start and grow a business, according to numerous economic development and business sources, including Forbes and Kiplinger. The University of Alabama alone has an economic impact on the Tuscaloosa Metro Area of that in the billions of dollars, with the average impact of a home football game averaging approximately $18 million. (Source: Tuscaloosa Chamber of Commerce)

Jeff Azuse, Senior Vice President of Hilco Real Estate, stated, "This property is ideal for a variety of end users, including a retail showroom or a distribution/warehouse. The growing Tuscaloosa area is an exciting place to cultivate a business and attract a skilled workforce."

Azuse continued, "Additionally, we're confident that potential buyers will see great value in this sale and the winning bidder will get a great deal, as this property is in great condition and recently appraised for a number far higher than the current opening bid."

The Online Auction is scheduled for Thursday, October 10, 2019, with bidding concluding at 6:00 p.m. CT. Interested bidders must use Hilco Auctions to submit their bids. For further information or to participate in the online auction, please contact Fernando Palacios at (877) 933-7779 or [email protected].

For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

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

About Hilco Real Estate

Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE consistently exceeds expectations.

Media Contact:

Gary Epstein
Hilco Global
Office: (847) 418-2712
Mobile: (847) 323-4943
Email: [email protected]

SOURCE Hilco Real Estate, LLC