DJM Real Estate Retained by RadioShack Corporation to Dispose of Seven Industrial Properties in the United States

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Mar 18, 2015, 06:00 ET

WOODBURY, N.Y., March 18, 2015 /PRNewswire/ -- DJM Real Estate, a division of Gordon Brothers Group, has been retained by RadioShack Corporation to exclusively manage the disposition of seven owned industrial properties. These properties are located in Texas, California, Iowa and North Carolina, and are available for immediate sale. The properties can be purchased individually or in any combination, subject to US Bankruptcy Court approval.

The properties include three major distribution centers in Ft. Worth, TX and Woodland, CA; individually ranging in size from 324,475 sq. ft. to 639,000 sq. ft.; and four properties located in Ft. Worth, TX, W. Burlington, IA and Swannanoa, NC; individually ranging in size from 100,827 sq. ft. to 151,000 sq. ft. All properties will be delivered vacant.

"This portfolio of RadioShack's distribution centers and warehouses has drawn a lot of attention already. We have received strong expressions of interest from national players as well as regional and local investors. We have been speaking to some potential owner occupier replacement tenants as well. It is likely that the properties will be sold off individually to buyers but we are also in discussions with bulk portfolio purchasers. We anticipate a series of successful auctions for the sale of these properties, most likely through the 'stalking horse' process," said Mark Dufton, CEO of DJM Real Estate.

The RadioShack Properties Include:

660 N Pioneer Ave, Woodland, CA 95776
323,475 SF Distribution Warehouse on 22.49 AC. Built in 2000.
1719 W Mount Pleasant St, W. Burlington, IA 52655
100,827 SF Light Manufacturing/ Warehouse on 8.24 AC. Built from 1962-88.
111 Old Bee Tree Rd, Swannanoa, NC 28778
151,000 SF Light Manufacturing on 41.47 AC. Built from 1952-84.
401 NE 38th St, Ft Worth, TX 76106
132,000 SF Light Manufacturing/ Warehouse on 9.16 AC. Built in 1960.
3131 W Bolt St, Ft Worth, TX 76110
136,570 SF Light Manufacturing/ Warehouse on 5.00 AC. Built in 1963.
900 Terminal Rd, Ft Worth, TX 76106
639,000 SF Distribution Warehouse on 23.55 AC. Built in 1975.
1000 Terminal Rd, Ft Worth, TX 76106
600,000 SF Distribution Warehouse on 23.55 AC. Built in 1991.

All parties interested in acquiring one or more of the properties should contact James Avallone at 516.682.4224 or [email protected]. Detailed property information can be obtained at http://www.djmrealestate.com/radioshack.

About DJM Real Estate:
DJM Real Estate, a division of Gordon Brothers Group, (www.djmrealestate.com) specializes in occupancy savings, real estate dispositions, growth strategies, strategic reviews, auditing, advisory and equity investments. Founded in 1992 and headquartered in New York, the firm has serviced the nation's most recognizable brands in healthy and distressed situations; including Toys R Us, Pep Boys, Yum! Brands, Food Lion, CompUSA, Office Depot, CVS, Dollar Tree and Winn-Dixie. DJM Real Estate is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value.

SOURCE DJM Real Estate