HILCO REAL ESTATE ANNOUNCES THE BANKRUPTCY SALE OF TURNKEY ICE-SKATING COMPLEX IN SHERWOOD, OR

NORTHBROOK, Ill., June 12, 2023 /PRNewswire/ -- Hilco Real Estate, LLC announces July 12, 2023, as the qualified bid deadline for the Chapter 11 bankruptcy sale of this turnkey ice-skating complex in Sherwood, Oregon. Well located along the Southwest Pacific Highway, 16 miles outside of Portland, this facility draws demand and usage from the greater Portland market and beyond with regional team tournaments, figure skating events as well as public and private skating lessons scheduled regularly.

Built in 1999, the currently operating, 51,000± SF ice arena features a National Hockey League regulation-size sheet of ice, pro-shop, beer garden, weight room, grandstands and concessions. Between the retail space on the first floor and the offices on the second, the property has eight additional revenue-generating lease opportunities, which could generate a potential gross revenue of $823,000 (based on market evaluation). The site also has room for future expansion on its 4.53± acres.

The property is in the community of Sherwood, in the southeast corner of Washington County. Nestled in the Tualatin Valley, Sherwood offers an excellent balance between the metropolitan amenities found in Portland and the natural beauty of both the Tualatin River and the Tualatin Mountains. The area boasts a vibrant downtown area with a variety of shops, restaurants and local events throughout the year. It is a family-friendly community with excellent schools and a strong sense of safety, camaraderie and pride. Sherwood's median household income is $107,537 with 3.89% one-year growth.

This sale is being conducted by Order of the U.S. Bankruptcy Court District of Oregon (Portland), Bankruptcy Petition No. 23-30250-thp11, In re: RODA, LLC and is subject to court approval. Qualified bids must be received on or before the deadline of July 12, 2023 at 5:00 p.m. (CT) and must be submitted on the approved Purchase and Sale Agreement in compliance with the bankruptcy court-approved bid procedures available for review and download from Hilco Real Estate's website.

Terry Rochford, senior vice president of business development at Hilco Real Estate, states, "We believe this property adds significant value to the community and will continue to draw revenue and garner expanded interest from both local and regional winter sports enthusiasts. Combined with the certainty of the bankruptcy sale process, this property is a compelling offering!" 

Jeff Azuse, executive vice president at Hilco Real Estate, added, "Considering the increasing demand for ice-skating facilities in the Portland MSA and the small number of competitive rinks, this property presents a unique opportunity to drive up revenue by optimizing scheduling and capitalizing on market demand."

Interested buyers should review the bid procedures for requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate's website. For further information, please contact Jonathan Cuticelli at (203) 561-8737 or [email protected], Jamie Coté at (847) 418-2187 or [email protected] and Adam Zimmerman, MAI, at (847) 917-9323 or [email protected].

For further information on the property, sale process, and terms or to obtain access to 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.

SOURCE Hilco Real Estate