Surplus Family Dollar assets going up for auction in October

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Surplus Family Dollar assets going up for auction in October

By Marianne Wilson - 09/28/2018
Twenty former Family Dollar retail stores and land parcels are going on the selling block.

Hilco Real Estate announced the portfolio sale of the surplus assets of the North Carolina-based retailer. The sites are located in Alabama, Arizona, Florida, Georgia, Illinois, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Oklahoma, Texas and West Virginia. The online auction will open at 9:00 a.m. (CT) on October 23, 2018 and will close at 3 p.m. (CT) on October 24, 2018.

“While these are surplus assets, many are positioned at the 'main and main' of the cities in which they are located," said Jeff Azuse, senior VP of Hilco Real Estate. "Another important consideration for buyers is that the average size of a Family Dollar store is approximately 7,000 sq. ft. This versatile footprint makes these assets ideal for a variety of retail reuses. The auction represents a tremendous opportunity for savvy investors or end users to pick up one or more of these locations."

To bid during the auction, buyers will need to register online at Hilco Real Estate's website. Once registration is completed, buyers will receive email verification. One on-site inspection date will be held for buyers to inspect the improved properties on Oct. 18 from 11 a.m. to 1 p.m. (in accordance with local time zones).