The facility, which once employed 30 people, has been closed since CF filed for bankruptcy. A contract price of $150,000 has been established for the property, which has a list price of $195,000. Bids are due along with a $15,000 deposit by Monday, Feb. 16. A hearing to approve the results of the Reading auction will be held at 10 a.m. Pacific time on Friday, Feb. 20 in the US bankruptcy court in Riverside, CA.
The broker for all of CF's distribution facilities throughout the US is Transportation Property Corp. The appraised value of the entire portfolio is in excess of $400 million, making it the largest real estate sale in transportation history. To date, 175 of the properties have been sold for a total of more than $305 million.
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