Hilco Real Estate Announces The Auction Of An Income-Producing Retail Building In Arcadia, Florida
NORTHBROOK, Ill., Feb. 19, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces March 26, 2020 as the sealed bid deadline for an income-producing retail building in Arcadia, Florida. This triple net leased property hosts a strong tenant mix and offers significant upside potential for a variety of uses including, but not limited to, retail, office, and warehouse space.
This income-producing asset is located in an opportunity zone at 301 N. Brevard in Arcadia, Florida, and is home to such tenants as Jackson Hewitt Tax Services, RMZ Realty, Sweet T's Subs, Arbitration Insurance, and the Department of Corrections – a government-backed lease. The 13,179-square-foot, masonry-style building sits on 1.75 acres of land. With 1,000 SF of vacant space on the second floor, there is further opportunity to increase gross rental income for this property. In addition to its retail and office space, this building also boasts 2,183-SF of warehouse space, an 840-SF storage bay, and 50 parking spaces in a sizable surface lot.
The city of Arcadia is situated at the crossroads of State Route 70 and U.S. 17, between Tampa, Ft. Myers, Sarasota, and Lake Okeechobee. The city recently completed a nine-month roadway and utility improvement project in December 2019, enhancing current transportation conveniences. With a 21.5% population increase since 2000, the growing community of Arcadia supports numerous industries including sales, retails, healthcare, education and construction, to name a few. Located in DeSoto County, Arcadia benefits from county business incentives and supportive resources to assist a variety of investors.
Speaking of the upcoming sale, Frank Curcio, Managing Director at Hilco Real Estate, stated, "The market for income-producing assets located in strong growth areas are very appealing to buyers right now, and we expect this auction to attract a lot of attention. The property is home to both local and national tenants all set within a thriving Florida city, so bidders have a tremendous opportunity to invest in a great property, with solid tenants in a strong market." Curcio continued, "Whether the next buyer wants to expand on this building's additional income potential through its leasing efforts for a long-term passive investment or a lease-up and flip, this property has a lot to offer."
The auction is scheduled for Thursday, March 26, 2020. Sealed bids must be submitted to the office of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers can submit their bids via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to [email protected].
Property tours will be held March 3, 10 and 17 by appointment. To schedule a showing time, please contact Jonathan Cuticelli at (203) 561-8737 or [email protected].
For further information or to register for the auction, please contact Jonathan Cuticelli at (203) 561-8737 or [email protected].
For further information on the property, sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
For more information about this or other properties available for sale, please visit HilcoRealEstate.com.
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
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