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PHOENIX-Properties in Phoenix and Flagstaff will become part of the largest real estate sale in transportation history when Consolidated Freightways auctions off 220 properties valued at $400 million to satisfy its creditors. The auction, scheduled to be held May 21, was ordered by a federal bankruptcy court after the 74-year-old Vancouver, WA-based shipping firm closed its doors Sept. 3.

The 49,000-sf Phoenix property, built in 2000, is a 121-door cross-dock distribution facility with 7,200 sf of office space and 3,600 sf of shop space positioned on 30 acres of land at 4301 W. Mojave St. A minimum bid price of about $6.2 million has been established for the property.

In Flagstaff, the company will auction off about 4.7 acres at 2600 East Huntington Dr. for an established contract price of $400,000.

Mike Brown, with Consolidated Freightways, tells GlobeSt.com that the Phoenix facility, is one of the company’s largest distribution centers, which employed 331 workers prior to its closing on Sept. 3. “The Phoenix property is in pristine shape,” said Brown. “At the time we built it, the economy was growing very fast so it is sized to match a growing economy.”

Brown said interested buyers can send a letter of intent via email to the firm’s broker, Transportation Property Co. Inc. indicating their interest in a property and must also file a request to be a qualified bidder at the May 21 auction. An overbid procedure will also be employed to let prospective bidders to increase bids on the day of sale. The auction is set to take place at the law offices of Latham and Watkins in Downtown Los Angeles.

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