Hilco Real Estate Announces The Sale Of A 16,000± SF, Freestanding Office/Retail Building In North Carolina

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Dec 21, 2020, 07:03 ET

NORTHBROOK, Ill., Dec. 21, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces February 18, 2021, as the offer deadline for a freestanding, Class A office/retail building located at 1114 Eastchester Drive in High Point, North Carolina. Well located just off the highly trafficked Eastchester Drive, this property is ideal for a multitude of possible reuse or redevelopment opportunities.

Originally built and operated as a beauty school with around 700 students per day, this 16,000± square-foot structure sits on a 4.8± acre lot and features a large parking lot of 129 surface spaces that can be partially demised for building expansion. The property would be superb for numerous alternative uses including a medical office, retail space, showroom, brewery/restaurant, or other office-type uses for which the space is already permitted. The building features a contemporary architectural design with high ceilings, phase III electrical power with an above-average number of electrical outlets, and plumbing throughout the entire property. Almost every room has running water with sink hookups along with an efficient gas-powered hot water system. The computer-controlled HVAC system is also powered with natural gas and set up for three client-controlled zones in the building, providing the potential for dividing up the space for multiple uses.

High Point is a growing city with a current metro-area population of approximately 776,000 people. Centrally located in the state of North Carolina, Winston-Salem and Greensboro are less than 30 minutes to the northwest and northeast. Major industries in High Point include textiles, manufacturing and, most notably, home furnishings. The city hosts the semi-annual High Point Furniture Market, the largest industry trade show in the world attracting 75,000 people from 100 different countries every fall and spring. High Point is dubbed "North Carolina's International City" due to its globally-connected business community to over 70 international companies. It is the only city in the state that extends into four different counties: Randolph, Davidson, Forsyth, with a majority in Guilford. Business North Carolina claimed Guilford County is home to the largest economic development project in the state, demonstrating the area's strong, established economy. Furthermore, High Point University announced last year a 10-year growth plan to include $300 million in new construction expanding its campus. Overall, the downtown and university campus areas within the city are social, pedestrian-friendly hubs of activity in support of small and large businesses alike.

Jeff Azuse, senior vice president at Hilco Real Estate, stated, "This is an excellent and well-built property. The owner put a lot of thought into every detail of the building, and the result is a top-notch structure ideal for many possible uses." He continued, "this city offers a lot of potential for businesses due to the number of people the area attracts from the High Point Furniture Market and the flourishing High Point University campus."

The offer deadline is scheduled for Thursday, February 18, 2021. Offers must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (EST) 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. Offers may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to [email protected].

On-site inspections will be held on Thursday, January 28 and Thursday, February 11, 2021. For more information on how to view each of the properties and schedule on-site tours, please contact Jiovanny Restrepo at (847) 386-2282 or [email protected] or Kiefer Price at (847) 504-3221 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.

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