HILCO REAL ESTATE ANNOUNCES THE SALE OF 131.5± AC CONNECTICUT STONE QUARRY

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Jul 28, 2022, 08:45 ET

NORTHBROOK, Ill., July 28, 2022 /PRNewswire/ -- Hilco Real Estate, LLC announces a sealed bid deadline of September 1, 2022, for the sale of a 131.5± acre stone quarry in Tolland, Conn., with six acres of land partially mined.

There is approximately 14 million tons of aggregate present on site at this Connecticut stone quarry according to a January 2022 Continental Placer report. The aggregate in the ground consists of two basic rock types: Muscovite Quartzite and the heavier Biotite-Amphibole gneiss. Commercial stone was the previous use for the mined aggregate. Additional value in this aggregate is seen in both building and construction use. There is currently an active mining permit issued by the Town of Tolland, which allows 10 acres to be permitted for mining at a time.

The site is located off the east side of Mountain Spring Road, two miles north of I-84, with access to the interstate from exit 67, making logistics and transportation to other areas quick and easy. The city of Hartford is approximately 20 minutes west from the quarry site in Tolland. The Tolland, Connecticut region has a unique country feel. However, the area's appearance does not reflect the economic activity surging throughout. With convenient access points and a centralized location, the property is near other towns including Coventry, Ellington, Mansfield, Stafford, Vernon, and Willington.

Jonathan Cuticelli, vice president at Hilco Real Estate, stated, "This sale represents an outstanding opportunity as it contains a significant amount of usable aggregate and a wide variety of future usage options as it sits near several major interstates and roadways in the Tolland and North Central Connecticut area. It presents a great option for operators looking to expand or relocate and capitalize on an established, yet growing market." He added, "There's huge upside for investors to buy and add value through both continued and new efforts."

On-site inspection dates are set for August 11 and 25 at 11 a.m. ET. Both dates are by appointment only. For more information on the sale and on-site tours, please contact Jonathan Cuticelli at (203) 561-8737 or [email protected].

For further information on the property, an explanation of the sale process, bidding procedures 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.

SOURCE Hilco Real Estate