CF Auctioning 23 Cross-Dock Distribution Properties in 15 States

VANCOUVER, WA-Consolidated Freightways is putting another 23 properties up for bid next week in its continuing effort to liquidate its assets and pay off creditors since shutting down and filing for Ch. 11 bankruptcy last September.

In what is being called the largest real estate sale in the history of the transportation industry, the Vancouver, WA-based company is in the process of selling 220 properties with an appraised value of more than $400 million. To date, 68 CF properties throughout the United States have been sold for $176 million. The listing broker is Transportation Property Corporation.

Next week, May 21, another 23 properties–mostly cross-dock loading and distribution facilities–will be auctioned to the highest bidder. The properties range from a 1-acre property in Shawnee, OK with a starting bid of $23,000 to a 77-acre property in Sacramento, CA with a starting bid of $14 million.