Consolidated Freightways' VA Truck Terminals Up For Sale

NORTHERN VIRGINIA-Having filed for bankruptcy in September of last year, 74-year old Vancouver, WA-headquartered trucking company Consolidated Freightways Corp. has just gotten around to putting its Virginia properties on the auction block. The auctioning off of its two distribution facilities in Richmond and Roanoke is just a small part of what is being called the biggest real estate sale in the history of American transportation. “The overall auction has been going on since December and will continue for the rest of the year,” Consolidated’s Mike Brown tells GlobeSt.com. When all is said and done, Consolidated will have liquidated its entire 220-property portfolio, which is valued at $400 million.

Consolidated’s Virginia properties include a 20-door distribution center with 5,400 sf of dock space and 1,400 sf of office space at 1009 Holly Springs Ave. in Richmond. The site is 3.25 acres in size and has a 2003 assessed value of $318,000. The contract price for the distribution center is just $150,000. In Roanoke at 1915 Plantation Rd., the company’s 14-door truck terminal with 3,250 sf of dock space and 900 sf of office space is up for grabs. Located on two acres, the contract price for the property is $265,000. The open auction process for the Virginia facilities is set for July 17.