Great Neck, NY-based Keen Realty LLC, which specializes in dispositions for companies in bankruptcy, is handling the auction. Mike Matlat of Keen explains, "There is already an existing sales contract on this facility, which is subject to higher and better offers at the October auction."
The facility, which was constructed in 1967 and expanded in 1983, is located on 25.5 acres. It contains approximately 25,452 sf of office space, 95,908 sf of cooler/freezer space, and 328,110 sf of warehouse space.
Bids will be opened in the Chicago office of Kirkland & Ellis at 11 a.m., CST, on October 14. The winning bid will be announced in US bankruptcy court in the district of DE at 2 p.m. EST on October 20.
Keen is also auctioning 14 fee-owned locations consisting of warehouse, retail and vacant land, and 13 leaseholds on retail and warehouse space for Dallas-based Fleming. The properties are located in more than a dozen states. Fleming filed for Chapter 11 bankruptcy protection on April 1 this year.
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