Hilco Real Estate Announces The Bid Deadline Of A Vacant Staples Building In Ridgecrest, California

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Apr 02, 2020, 14:59 ET

NORTHBROOK, Ill., April 2, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces May 7, 2020 as the bid deadline for a vacant 24,000± SF retail building, a former Staples, which is part of the High Desert Plaza in Ridgecrest, California. Originally built in 1998, this highly visible structure is set on 1.55 acres.

This prime retail investment opportunity is located within the High Desert Plaza alongside other retailers such as an Albertsons grocery store featuring an in-store Starbucks. Nearby tenants of this property include a Walmart Supercenter, Tractor Supply Company, Subway, GameStop, AT&T Wireless, and an ARCO gas station, highlighting the prevailing market and site's local desirability.

The city of Ridgecrest sits along U.S. Route 395. Centrally located between the major cities of Fresno and Los Angeles in the Indian Wells Valley of California, the city acts as the urban center for northeastern Kern, Inyo, and San Bernardino Counties. Ridgecrest sits adjacent to the Naval Air Weapons Station (NAWS) China Lake, home to the Naval Air Warfare Center Weapons Division, which continues to be the major source of employment for Ridgecrest residents as it employs 4,166 civilians, 1,734 contractors and 620 active duty military. With a population increase of 15.9% since 2000, Ridgecrest has 28,728 residents as of 2017 and boasts an average household income of $60,794, according to Data USA. The city's largest industries contributing to this development growth include healthcare, social assistance and public administration.

Mark Carbone, senior managing director at Hilco Real Estate, stated "This building is ideally located next to a successful grocery store and at a signaled intersection along S. China Lake Blvd., a major thoroughfare in Ridgecrest. There are a variety of retail possibilities for this site that could benefit from the stream of daily traffic and the nearby retailers, making this an excellent opportunity for an investor or an owner-user."

The bid deadline is scheduled for Thursday, May 7, 2020. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco's website. On-site inspections will be held on April 15 and April 29 between 11:00 a.m. and 1:00 p.m. (PT) by appointment only. Please contact Jonathan Cuticelli at (855) 755-2300 or [email protected] to schedule your appointment or for any further information. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to [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.

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 and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

Media Contact:

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

SOURCE Hilco Real Estate