HILCO REAL ESTATE ANNOUNCES THE BANKRUPTCY SALE OF PREMIER DATA CENTER/FLEX INDUSTRIAL BUILDING ALONG US 287 IN FORT WORTH, TEXAS
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NORTHBROOK, Ill., Jan. 31, 2023 /PRNewswire/ -- Hilco Real Estate, LLC announces March 23, 2023 as the qualified bid deadline for the Chapter 11 bankruptcy sale of a prime flex industrial building that was recently converted into a state-of-the-art data center boasting an electrical supply of 10 megawatts – the renovations totaling $6,700,000. The property is well located along US 287 in the high-growth area of northern Fort Worth, Texas.
Built in 2018, the 48,980± SF facility features 22 drive-in doors, 2 loading docks, 18' – 26' warehouse clear heights and a high-end two-story office space that offers shared workspace adaptability. The warehouse space offers an open, versatile layout ideal for last-mile staging and logistics to serve the fast-growing communities within the region. The site includes the potential to increase the electrical supply further, hosts a 5,000 SF ancillary storage warehouse currently leased to a trucking company and offers 6.5 acres of additional land for future expansion.
The property is located in Fort Worth, the fifth most populated city in Texas and the thirteenth most populated city in the United States according to the U.S. Census and the fastest growing large city between 2010 and 2020. When compared with the rest of Texas, Fort Worth provides strong statistics that have caused Fortune 500 companies to flock to the area and establish a major presence here. The area features household incomes that are higher than state-wide statistics by almost 10%.Tarrant County, where the property is situated, plays host to several large, regional and national employers, including AMR Corporation - American Airlines (24,700), Bank of America Corp. (20,000), Texas Health Resources Inc. (19,230), Baylor Health Care System (17,097), AT&T (15,800), Lockheed Martin Aeronautics Co. (14,126) and JP Morgan Chase & Co. (13,500). As employees have followed these job opportunities, Fort Worth's population has swelled to almost one million and is projected to increase by 1.2% annually through 2027. The area is also home to Alliance Texas, a 26,000-acre master-planned development that has emerged as the primary industrial hub of north Texas. Alliance Texas includes a mix of office, retail, medical, residential and entertainment options all thoughtfully planned with greenspaces seamlessly integrated throughout, making it a premier place to live, work and play.
The sale is being conducted by Order of the U.S. Bankruptcy Court Northern District of Texas (Ft. Worth), Bankruptcy Case #: 22-42618-ELM11, In RE MKS Real Estate, LLC and is subject to court approval. Qualified bids must be received on or before the deadline of March 23, 2023 at 4:00 p.m. (CT) and must be submitted on the approved Asset Purchase Agreement in compliance with the bankruptcy court-approved bid procedures available for review and download from Hilco Real Estate's website.
Terry Rochford, senior vice president of business development at Hilco Real Estate, stated, "We believe that this property will garner significant interest from both data center users, where recent demand has become almost insatiable, and a variety of last mile logistics users needing a facility in this area of explosive growth. Combine that with the certainty of the bankruptcy sale process, and you have a very compelling offering!"
Ben Zaslav, director of business development at Hilco Real Estate, added, "The property is well positioned just eight miles south of Perot Field Fort Worth Alliance Airport, which is dedicated exclusively to air cargo, as well as the BNSF Alliance Intermodal Facility, which serves as one of the nation's premier inland ports. Solid economic underpinnings and the unique transportation infrastructure provided by rail, road, and air have resulted in this area becoming a veritable magnet for businesses both large and small, as well as the people they employ."
Interested buyers should review the bid procedures for requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate's website. For further information, please contact Steve Madura at (847) 504-2478 or [email protected] or Michael Kneifel at 847-201-2322 or [email protected].
For further information on the property, sale process, and terms or to obtain access to 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.
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SOURCE Hilco Real Estate
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