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PUBLIC NOTICE OF CHAPTER 7 SALE: Income-Producing Industrial Property on 6 Acres

Public Notice of Chapter 7 Auction of 65,000 SF Income-Producing Industrial Property on 6 Acres in Whitehouse Station, NJ

AuctionAdvisors (“Auctioneer”) has been engaged to sell the property of 388 Route 22 Readington Holdings, LLC (“Property”) by order of the Chapter 7 Trustee in Bankruptcy Case No. 18-30155 KCF.

The Property, commonly known as 388 US-22 Whitehouse Station, NJ 08889, consists of a 65,000± SF single-story industrial building on 6± acres. The offering also includes a solid cement block building with 32’± ceilings, 2 drive in doors, 2 docks and office area. This property was slated for retail development but has been rented for over 5 years.

Summary of the terms of sale:

  1. The sale will take place on-site and bidding will take place on December 17, 2019 at 11:00 AM EST.
  2. There is no buyer’s premium and a deposit amount of $150,000 in the form of a bank check is to be paid at closing.
  3. There is a 2% Broker Co-op.
  4. Closing must take place within 30 days of sale.

Inspections by appointment only with the auctioneer.

To request information relating to the Property, the bid procedures, the terms and conditions of the Sale, or to inspect the Property or any make other inquiries, call Oren Klein at (212) 375-1222 x 703 or Joshua Olshin at (212) 375-1222 x 705, of AuctionAdvisors.

For more information about the Property, please visit http://auctionadvisors.com/property-details/readington_auction_219

About AuctionAdvisors

AuctionAdvisors, based in the New York metropolitan area, is a full-service real estate and business liquidation auction company. With strategically located offices around the country, AuctionAdvisors services clients in business liquidations and the disposition of real estate and real estate related assets. To learn more about AuctionAdvisors and the services that it offers, please visit http://auctionadvisors.com/

About The DailyDAC Editors

The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.

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