HILCO REAL ESTATE SALES ANNOUNCES SALE OF 39,000± SF OPEN COURT SPORTS CENTER IN KATY, TEXAS

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Jul 25, 2024, 10:52 ET

NORTHBROOK, Ill., July 25, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces September 18, 2024 as the bid deadline for the sale of the sports complex located at 1808 Woodcreek Bend Lane in Katy, Texas.

Built in 2019, this 39,360± SF sports complex features four large courts that meet NBA and NCAA regulations for basketball and volleyball. In addition, the courts can also host pickleball, capitalizing on the growing interest in the sport. Retractable bleachers line one wall, providing seating for everything from practices to full-fledged tournaments. Amenities include an on-site medic room, fitness and training area, café with seating and vending machine spaces as well as locker rooms with showers. Situated on 5.46± acres, the site offers room for expansion, potentially adding outdoor courts for pickleball, tennis or badminton. With 170 parking spaces and room for additional parking, this property is positioned to capitalize on Texas's sports culture.

Katy is situated in the western part of Houston and benefits from proximity to the massive metropolitan area. As of 2022, the city had a population of 22,800—up 4.1% from 2021. Additionally, the Katy Independent School District is ranked #17 in the state and #1 in the Houston area, serving 88,000± students with 74 schools. Both Igloo and Academy Sports + Outdoors have established corporate headquarters in the area, helping anchor the economy. The Katy Freeway (I-10 West), the Grand Parkway and the Westpark Tollway easily connect the city to the Energy Corridor and the greater Houston area.

Houston, Texas is the fourth largest city and fifth largest metropolitan area in the U.S. From 2021 to 2024, its population grew by 4.79%. The city's central location and world-class transportation infrastructure, including two major international airports and a busy port, provide easy access to domestic and international markets. Houston's low taxes, affordable living and highly skilled workforce has created a favorable business climate.

Chet Evans, vice president at Hilco Real Estate, states, "This state-of-the-art facility, built in 2019, is not only strategically located near Houston's booming metropolitan area but also offers extensive amenities and expansion potential. We encourage interested parties to seize this chance to own a versatile property in one of the nation's most dynamic regions."

The sale is being conducted by Order of the U.S. Bankruptcy Court District of the Southern District of Texas (Houston), Bankruptcy Petition No. 23-32826, In re: Open Court Sports Complex, LLC. Bids must be received on or before the deadline of September 18 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 Jiovanny Restrepo at (847) 386-2282 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