Consolidated Freightways To Sell Distribution Facility

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Consolidated Freightways To Sell Distribution Facility

Tue, 07/08/2003 - 8:00pm -- tim

As part of the largest real
estate sale in transportation history – 220 total properties with an
appraised value over $400 million – Consolidated Freightways announced
that it is placing its Rutland distribution facility located at 7 Randbury
Rd. for sale to the highest bidder, through an open auction process
scheduled for July 17, 2003.
The Rutland property is an 11-door cross-dock distribution
facility situated on 5.0 acres and has been closed to operations since
September 3, 2002 when the 74-year-old company filed for bankruptcy
protection. Since then CF has been liquidating the assets of the
corporation under orders of the bankruptcy court. Eight CF employees
formerly worked at the Rutland terminal.
A contract price of $235,100 has been established for the CF
property. Interested parties who would like to participate in the July 17
bankruptcy auction should submit the form Request to be Designated a
Qualified Bidder at Auction. That form can be found at HYPERLINK
"http://www.cfterminals.com/Overbidder.html"www.cfterminals.com/Overbidd
er.html and must be submitted prior to the date of the auction. The
indicated deposit must also be received, via wire or certified check,
prior to the date of the auction.
To date, 100 CF properties throughout the U.S. have been sold for $218
million. Potential bidders should direct any questions about the property
and the bidding procedures that cannot be answered at the company’s web
site HYPERLINK "http://www.cfterminals.com/"www.cfterminals.com, to
Transportation Property Company at (800) 440-5155.