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Three Prime Office Buildings Up for Sale at Bankruptcy Auction

Keen-Summit

Located in Three Hot Metro Markets, the Properties Will Be Sold Together or Separately - Bid Procedures Approved with November 30th Deadline

This is a unique bankruptcy sale because the real estate assets are not the drivers of the distressed property.”
— Harold Bordwin
NEW YORK, NEW YORK, UNITED STATES, November 4, 2021 /EINPresswire.com/ -- Keen-Summit Capital Partners LLC announced today the bankruptcy sale of three prime commercial properties: office buildings, located in Grand Prairie TX, Smyrna, GA, and Tampa, FL, are “a buyers’ dream,” according to Harold Bordwin, Principal and Co-President of Keen-Summit Capital Partners, as two of the three properties are 100% leased.

“Even though the office sector is a little uncertain right now with the shift to the hybrid-remote work model two of these properties are fully leased, something investors will be keenly interested in, so they are a prime investment,” he says. “This is a unique bankruptcy sale because the real estate assets are not the drivers of the distressed property,” Bordwin explains. “Actually, this bankruptcy sale came as the result of a decade-long dispute and commercial litigation and is unrelated to the properties themselves. So bid your best price!”

It’s no secret that investors are eyeing commercial property as an inflation hedge, so those seeking interesting opportunities will find these properties worth investigating.

Grand Prairie, TX
The largest of the properties, this prime office building is located at 801 West Freeway, Grand Prairie, TX, and is 100% occupied. Its primary tenant is a state government agency. Built in 1982, the eight-story, 118,267+ square-foot multi-tenant office building sits on 5.05+ acres. Also available is an adjacent 2+ acre lot. This Dallas-metro gem highlights an upgraded HVAC system and 100% fire sprinklered wet system, and security system. It is in close proximity to President George Bush Turnpike, I-30 and near the DFW airport.

Tampa, FL
This single-story, 39,261+ square-foot multi-tenant office building on 3.32+ acres is located at 850 W Cypress St, Tampa, FL. The property is 100% occupied, and was built in 1989. Highlights include central heat and air system, security cameras, security check-in, a fitness center, and fire alarm and sprinkler systems. Adjacent to Cypress Point Park and Old Tampa Bay, it’s a short 3-mile drive to TPA airport.

Smyrna, GA
This two-story, multi-tenant office building on 4.5 + acres is located at 3300 Highlands Pkwy SE, Smyrna, GA. Built in 1988, the 64,562 square-foot property is a value-add opportunity. It’s just 12 miles from Atlanta, and includes a fire sprinklered wet system, central HVAC system, public utilities and sewer, and ample signage and frontage on Highlands Pkwy and Technology Court.

The bid deadline for these properties is November 30. The auction will take place on December 2. Please visit the sale website for more information at: www.OfficeBuildings-BankruptcySale.com.

The properties are being sold as part of the jointly administered Parusa Investment Corporation and FICO Financial Corporation bankruptcies, which are pending before the U.S. Bankruptcy Court in the Middle District of Florida Tampa Division. The case number is 8:21-bk-03853-MGW.

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About Keen-Summit Capital Partners LLC
Keen-Summit Capital Partners LLC is a real estate brokerage, workout and investment banking firm specializing in special situations, restructurings, bankruptcies and receiverships, with offices in Manhattan and Melville, NY and Chicago IL. Keen-Summit Capital Partners LLC represents property owners, retail and commercial tenants, commercial and industrial businesses, investors, developers, and creditors across various industries. Clients benefit from its reputation for excellence and integrity, extraordinary industry experience, in-depth market knowledge, time-tested business approach, deep industry relationships, workout and bankruptcy expertise, and exceptional execution capabilities. Keen-Summit has won the 2021 ALIS Award, M&A Advisor Turnaround Award, Turnaround Atlas Award, and the CoStar Power Broker Award for their outstanding achievements, among others. For more information about Keen-Summit Capital Partners, call 646.381.9222 or visit www.keen-summit.com.

Jen Galluzzo
Harrison Edwards
+1 845-663-3566
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