Consolidated Freightways Announces May 20th Sale of Major Florida Distribution Facilities.Business Editors ORLANDO & JACKOSNVILLE, Fla.--(BUSINESS WIRE)--May 11, 2004 As part of the largest real estate sale in transportation history -- 228 total properties with an appraised value An appraised value (USA) or mortgage valuation (Australia) pertains to the assessed value of real property in the opinion of a qualified appraiser or valuer. It is usually used as a pre-qualification & risk-based pricing factor related to the issuance of mortgage loans by a over $400 million -- Consolidated Freightways Consolidated Freight was the 3rd biggest trucking company in the US. In the 1930s they started their own truck manufacturing operation, Freightliner, now part of DaimlerChrysler. announced that it is placing three of its largest Florida facilities for sale to the highest bidders HIGHEST BIDDER, contracts. He who, at an auction, offers the greatest price for the property sold. 2. The highest bidder is entitled to have the article sold at his bid, provided there has been no unfairness on his part. on May 20. Two of the properties are located in Orlando and will be sold either separately or as whole, through an open auction process. 238 CF employees formerly worked at the Orlando facilities. The northern Orlando terminal consists of a 97-door cross-dock distribution facility situated on 16.91 acres and is located at 828 West Taft Vineland Rd. A contract price for the northern terminal has been established at $4,200,000. The southern terminal consists of an 85-door cross-dock distribution facility situated on 17.29 acres, located at 10066 General Drive. A contract price has been established for the southern terminal of $3,400,000. The contract price to purchase the entire Orlando property is $7,600,000. A third terminal in Jacksonville is also for sale to the highest bidder through a reserve auction process on May 20. The Jacksonville facility is located at 2120 North Lane Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent . Industrial Park. It is a 64-door cross-dock terminal situated on 6.61 acres. Seventy-seven CF employees formerly worked at the Jacksonville terminal. A starting price starting price n (COMM) → precio inicial starting price n → prix initial starting price start n (at auction of $895,000 has been established for the Jacksonville property. All terminals have been closed to operations since September 3, 2002 when the 75-year-old company filed for bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection. Since then CF has been liquidating the assets of the corporation under orders of the bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. . Interested parties who would like to participate in the May bankruptcy auction should submit the form Request to be Designated a Qualified Bidder at Auction. That form can be found at www.cfterminals.com/Overbidder.html and must be submitted prior to the date of the auction. The indicated deposit must also be received, via wire or certified check A written order made by a depositor to a bank to pay a certain sum to the person designated—the payee—which is marked by the bank as "accepted" or "certified," thereby unconditionally promising that the bank will pay the order upon its , prior to the date of the auction. To date, 198 CF properties throughout the U.S. have been sold for over $335 million. Potential bidders should direct any questions about the property and the bidding procedures that cannot be answered at the company's web site www.cfterminals.com, to Transportation Property Company at 800-440-5155. |
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