NORTHBROOK, Ill., April 14, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces May 14, 2020 as the managed bid deadline for a vacant former Walgreens in Stockton, California. Originally built in 1998, the 13,900± SF retail building sits on 1.56 acres on the corner of a busy signaled intersection. The move-in ready facility is a prime investment opportunity.
Located in the city of Stockton, this building sits on the corner of the highly trafficked intersection of North El Dorado Street and E. March Lane, boasting an average daily traffic (ADT) count of approximately 33,000 vehicles and providing great visibility and easy access for customers. The structure features 20-foot ceilings, two drive-thru lanes and ample parking with 88 surface parking spaces. While a Best Western and other facilities neighbor the property, the Sherwood Mall Shopping Center and San Joaquin Delta College are less than half a mile west.
Stockton is the county seat of San Joaquin County, a growing county of more than 752,000 people with much to offer Californians. The city's population is just over 311,000 people, accounting for over 40% of the county's total population, according to Data USA. San Joaquin County's median household income is above $64,000, which is more than the national median household income of almost $62,000, indicating this area is a strong retail market. Stockton is easily accessible via Interstate 5 and State Route 99, inland California's major north-south highways, as they pass through the city. Additionally, this city is conveniently located only an hour and thirty minutes east of San Francisco, under an hour and thirty minutes northeast of San Jose, and fifty minutes south of California's state capitol, Sacramento.
Mark Carbone, senior managing director at Hilco Real Estate, stated, "This is a great property. Not only is it in a highly visible and very well trafficked location, the property also benefits from being zoned as general commercial. This allows for a variety of uses other than retail, such as a clinic or laboratory, childcare center or restaurant to name a few apt possibilities. This offering will make an appealing opportunity to quite a few retailers and/or fit nicely into an investor's portfolio."
The bid deadline is scheduled for Thursday, May 14, 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. On-site inspections will be held on April 22 and May 6 between 11:00 a.m. and 1:00 p.m. (PT) by appointment only. Please contact Jonathan Cuticelli at (855) 755-2300 or [email protected] to schedule your appointment or for any further information. 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 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