HILCO REAL ESTATE SALES ANNOUNCES 4.2± PRIME, DEVELOPABLE AC AVAILABLE THROUGH A BANKRUPTCY SALE IN DALLAS, TEXAS

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Jun 05, 2024, 14:00 ET

NORTHBROOK, Ill., June 5, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces July 19, 2024 as the bid deadline for the bankruptcy sale of a 4.2± acre parcel of land along Texas Highway 78 in Wylie, Texas. The land is already leveled with existing residential plans included in the sale.

Located in the northeastern suburbs of Dallas, this shovel-ready property is ideally suited for the construction of 34 luxury townhomes, with plans featuring a mix of 3 bed/3 bath and 3 bed/2.5 bath units, each equipped with attached two-car garages. The proposed neighborhood includes a community center, pool, and recreational sports space, all situated along the banks of Maxwell Creek.

This parcel offers significant visibility and accessibility as the first property visible when entering Wylie on TX-78 from Dallas. While current plans are focused on residential development, the City of Wylie is also open to commercial development proposals, providing flexibility for various potential future uses. This adaptability makes the property particularly attractive as the Dallas-Fort Worth Metropolitan Statistical Area (MSA) continues its rapid expansion, benefiting neighboring cities like Wylie.

Wylie, Texas, one of the fastest-growing communities in Collin County, boasts a population of 61,078, reflecting a 6.2% increase since the 2020 census and a remarkable 230% growth since 2000. As part of the largest MSA in the southern United States, Wylie benefits from its proximity to numerous Fortune 500 companies headquartered in the Dallas-Fort Worth area, including AT&T, Southwest Airlines, AECOM and American Airlines. Notably, Wylie is attracting corporate attention with Sanden International's recent establishment of North America's first electric vehicle AC compressor line in town. This $25 million factory is poised to support the burgeoning electric vehicle market and bolster the local economy. Additionally, Collin County has experienced a 3.55% increase in home values from 2023 to 2024, up to $602,134 from $581,499 in 2023. The community's continued growth underscores its strong investment potential.

Steve Madura, senior vice president at Hilco Real Estate, states, "This prime parcel in Wylie represents a remarkable opportunity for developers and investors. The combination of shovel-ready status, flexible development options, and strategic location within the rapidly growing Dallas-Fort Worth MSA makes this property exceptionally desirable."

The sale is being conducted by Order of the U.S. Bankruptcy Court Eastern District of Texas (Sherman), Bankruptcy Petition No. 24-40749, In re: Serene District Townhomes, LLC. Bids must be received on or before the deadline of July 19 at 5 p.m. (CT) and must be submitted on the Purchase and Sale Agreement available for review and download from Hilco Real Estate Sales's website.

Interested buyers should review the requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate Sales's website. For further information, please contact Chet Evans at (847) 418-2702 or [email protected] and Steve Madura at (203) 561-8737 or [email protected].

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

About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.

SOURCE Hilco Real Estate