NORTHBROOK, Ill., June 18, 2020 /PRNewswire/ -- Hilco Real Estate, LLC in cooperation with Advanced Restaurant Sales, announces July 10, 2020 as the bid deadline for the court-ordered bankruptcy sale of properties belonging to the popular Tex-Mex restaurant chain, Trudy's. All four properties within this sale are located throughout Austin, Texas. Interested parties are able to purchase all of the assets, tangible and intangible or a combination of the assets including the owned real estate, assumption of the restaurant location leases, furniture, fixtures, equipment, and intellectual property rights including trademarks, business names, copyrights and more.
The original restaurant in this portfolio is known as Trudy's Texas Star, "the one that started it all." It was established in 1977 and is now found on 30th Street, located in the heart of Austin and just a quarter of a mile from the University of Texas. The company opened two more restaurants in 1983 and 1986 which were combined into one location in 1994 and later moved to its current location on Little Texas Lane, known as Trudy's South Star. Expanding further, Trudy's North Star opened on Burnet Road in 1988. Along with the chain of Trudy's restaurants, the company owns the South Congress Café, a trendy eatery in the Bouldin neighborhood that features creative and progressive American cuisine located on Congress Avenue, just south and across the Colorado River from Trudy's original restaurant. All restaurants within this sale are in prime locations throughout Austin, surrounded by other popular eateries and businesses which exemplifies Austin's reputation as a booming city.
Austin is the fourth largest city in Texas with a population of over 988,000 people. The city demographer, Ryan Robinson, predicted its population surpass the one million mark by June of this year. Along with impressive growth statistics, Austin has received the number one spot on numerous noteworthy lists. Some of the most recent titles given to the city have been Business Insider's 2019 "50 Best Places to Live in America, Ranked," in which Austin took the top spot for the third year in a row. Austin was also awarded the number one spot on The 50 Best U.S. Cities for Starting a Business in 2020. Overall, the trendy metropolis is one of the fastest growing cities in America known for its outstanding food, great live music venues, exceptional recreational activities and friendly locals. In addition to being known as the "Live Music Capital of the World," Austin also attracts over 27.4 million domestic visitors every year with world-renowned events, such as the Austin City Limits Music Festival, South by Southwest and the Circuit of The Americas.
Jeff Azuse, senior vice president at Hilco Real Estate, stated, "The sale includes both tangible and intangible assets, which creates a compelling opportunity for an owner/user to add this well-established brand to an already existing portfolio, or a new owner/investor to step into a popular operating business." He adds "All the lists Austin's made being the 'top' in the country and being widely known as a city with great food truly cements this as a tremendous opportunity."
The managed qualified bid deadline is scheduled for Friday, July 10, 2020. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco's website. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to [email protected].
For more information on how to view each of the properties and schedule on-site tours, please contact Jonathan Cuticelli at (855) 755-2300 or [email protected]. This sale is in cooperation with Rob Hunziker of Advanced Restaurant Sales, who can be reached at (404) 518-8247 or [email protected].
For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
Office: (847) 418-2712
Mobile: (847) 323-4943
Email: [email protected]
SOURCE Hilco Real Estate