Two-Acre Parcel on the Market as part of 220-Property Portfolio

WORCESTER, MA-As part of the largest real estate sale in transportation history–220 total properties with an appraised value over $400 million–Consolidated Freightways is placing its distribution facility located at 340 Franklin St. for sale to the highest bidder, through an open auction process scheduled for May 21.

The property is a 17-door cross-dock distribution facility situated on 2.10 acres and has been closed to operations since this past September when the 74-year-old company filed for bankruptcy protection in a California court. Since then Consolidated Freightways has been liquidating the assets of the corporation under orders of the bankruptcy court.

A contract price of $280,000 has been established for this property. In Massachusetts, the company also has a 10-acre parcel in Boston at 295 Salem St. and a four-acre parcel at 1148 Park St. in Stoughton. Currently, 68 Consolidated Freightways properties throughout the country have been sold for $176 million.