Philadelphia, York Distribution Centers Put Up for Bid

PHILADELPHIA-In separate auctions on Dec. 2, former Consolidated Freightways distribution facilities here and in York will go to the highest bidder. They are among the last remaining centers in a portfolio of 229 properties nationwide that were put under liquidation when Vancouver, WA-based CF filed for bankruptcy protection on Sept. 3, 2002. Both are vacant.

The Philadelphia facility, which once employed 234, is located on approximately 11.3 acres at 1600 South Warfield St. It includes a 5,900-sf office area, a 53,960-sf dock and has 144 loading doors. Transportation Property Corp., the broker for all the CF properties, has established a starting price of just under $2.2 million. The appraised value of the facility is $7.1 million. A deposit of $29,500 is required of bidders.

The York facility at 405 Church Rd. encompasses 46.8 acres, including a 15-acre land parcel. The building has 124 loading docks, 7,200 sf of office space and a 35,000-sf shop. The appraised value is $6.2 million. A $220,000 deposit is required.

Bids and deposits by wire or certified check must be received prior to the date of the auction. It will be held at the offices of Stoel Rives in Portland, OR. Hearings to approve the results of the auction will be held at 2 p.m. Pacific time on Dec. 3 in the US Bankruptcy Court in Riverside, CA.