Three former sites for the Stock Building Supply will go up for auction later this week, as a New York company moves to liquidate surplus properties.
Newmark Knight Frank said it will offer 15 surplus properties in 10 states at auction as part of a post bankruptcy liquidation plan for the Raleigh, N.C.-based Stock Building Supply.
In November 2008, Stock Building Supply closed four branches in Idaho. The Idaho closures came as part of a nationwide company restructuring that shut down 86 facilities and laid off about 3,000 associates. More than 200 stores remained open in 27 states, including 10 Idaho.
Three properties set for auction in Idaho on Feb. 10-12, in Idaho and Utah, with other additional auctions taking place later in the month. Immediate properties on the block include:
- 145 North Curtis Road, Boise. This 34,080 +/- square-foot office/showroom/retail/warehouse and storage facility on over 3.6 acres will be auctioned at 1:00 p.m. Wednesday, Feb. 10. Excellent retail area with easy access to I-84 and less than five miles to Boise Airport.
- 64 North State Street, Preston. This 10,227 +/- square-foot corner retail/warehouse/storage facility, and associated paved parking and loading areas on close to 1 acre, will be auctioned at 10:00 a.m., Friday, Feb. 12. Frontage on North State Street (Hwy. 91), the main north-south street through Preston. Brief drive to I-15.
- 955 West Alameda Drive, Pocatello. This 34,600+/- square-foot retail/warehouse and storage building with two lumber sheds, associated paved parking and loading areas on 3.86+/- acres, will be auctioned at 3:00 p.m., Friday, Feb. 12. Bordered to the east by railroad tracks. Minutes to I-15. Four miles to Idaho State University and 10 miles to Pocatello Regional Airport.
Tranzon Integrated Property Group has been designated by Newmark Knight Frank as auctioneer to handle all of the auctions on a national basis. Properties to be offered include industrial, warehouse, commercial with retail, and land. See details.
“This is a buying opportunity and very indicative of a major trend in the market today,” stated Joshua Olshin, president of Tranzon Integrated Property Group, the auction company handling the offerings/dispositions. He adds that “banks are not the only ones selling properties in what might be referred to as the current buyer’s market. There is an increasing number of people out there with cash looking to buy such properties and the expediency of the auction process results in a win-win for everyone.”