From Home Furnishing Business
17 Former FBI Properties up for Auction
Hilco Real Estate has set a June 19 deadline for bids for a portfolio of real estate assets involved in the Furniture Brands International bankruptcy case.
The listing includes 17 Thomasville and Lane properties ranging from manufacturing and distribution facilities to development land, located throughout Mississippi, North Carolina, Tennessee and Virginia. The properties can be viewed online.
Furniture Brands International owned home furnishings brands including Thomasville, Broyhill, Lane, and Drexel Heritage among others. The company filed Chapter 11 bankruptcy protection late in 2013.
As part of the wind-down and liquidation of the Furniture Brands business, these properties being marketed are some of the last remaining assets in the estate.
Among the 17 real estate assets being sold are a number of marquee properties, including a 353,000 square-foot facility that served as the Thomasville brand headquarters for nearly 100 years located in Thomasville, N.C., a 430,000-square-foot manufacturing/distribution facility offering significant office space and a data center in Tupelo, Miss., and an 800,000-square-foot manufacturing facility on 85 acres in Appomattox, Va.
The format and structure of the sale allows for the properties to be purchased individually or in any combination.
"The buildings in this portfolio offer a number of structural and location-related attributes that will be very attractive to a wide variety of potential buyers," said Joel Schneider, senior vice president of Hilco Real Estate. "As such, we expect this sale to attract active interest from a broad spectrum of real estate investors, developers and end users. Virtually all sites could be converted for other uses. Many of the sites are located close to interstate highways, rail lines, and major state routes."