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National Portfolio of Retail, Office Properties Now on The Market

San Diego Firm Taps Houston-Based Allied Investors to Broker Sales

 
PRLog - Feb. 10, 2014 - SAN DIEGO -- SAN DIEGO, Calif. (Feb. 10, 2014) Trigild – a San Diego-based real estate firm specializing in property/asset management and fiduciary services, has announced that the Coldwater/Silvercreek portfolio – comprised of 36 retail strip centers and two single-story office properties located throughout the country – is now on the market.

Appointed liquidating trustee for the portfolio late last year, Trigild has tapped Houston, Texas-based brokerage firm Allied Advisors to take the properties to market.

According to Josh Hall, Trigild’s chief financial officer, his firm is working closely with Allied to review all prospects and accepting offers for individual strip centers, groups of properties or the entire portfolio.

Trigild was appointed liquidating trustee of the portfolio – with an estimated value of $50 million – by Judge Harry C. Dees Jr., U.S. Bankruptcy Court, United States Bankruptcy Court Northern District of Indiana, South Bend Division in October 2013. Since that time, the firm has carefully positioned the properties for sale – succeeding in renewing/extending nearly 112,000 square feet of space within the portfolio.

Built by a single developer, the properties are located in 33 different cities in 17 states throughout the Southeast, West and Midwest, including Iowa, Colorado, Michigan, Illinois, Michigan, Louisiana, Wisconsin, Texas, Utah and Indiana. The portfolio is 74 percent leased with a weighted average scheduled net base rent of $9.89 per square foot, and an average remaining term of 32 months.

According to Hall, the properties range from 9,000 to 37,000 square feet and consist of two to seven tenants. Most are shadow anchored by a Wal-Mart Super Store, and many have high profile national tenants such as Dollar Tree, Game Stop and Radio Shack.

“This is a unique and appealing investment opportunity, especially since as the national economy improves, indicators for the Midwest are also on the upswing,” Hall said. “Many of the local economies within the portfolio are creating economic incentives to draw large national and multi-national manufacturing and distribution firms to their communities – boding well for the future financial health of these retail centers.”

The properties are located at:

1.     224-231 West McCoy St., Tomah, WI

2.     504-503 S. Dunlap Road, Savoy, IL

3.     114 Centerville Rd., Sturgis, MI

4.     1350-1358 Centerville Rd., Sturgis, MI

5.     355 S. Willowbrook Rd., Coldwater, MI

6.     354 E. Chicago St., Coldwater, MI

7.     12547 State Route 143, Highland, IL

8.     1651-1659 Highway 10 West, Detroit Lakes, MN

9.     1151 Ryans Rd., Worthington, MN

10.  200 Production Dr., Lafayette, LA

11.  1867-1896 US Hwy 82, Tifton, GA

12.  621-627 12th Ave., Norman, OK

13.  173 Tovera Rd., Alvin, TX

14.  12950 Willow Centre Dr., Houston, TX

15.  3530 & 3450 W. Sunshine St., Springfield, MO

16.  1212-1314 Independence St., Republic, MO

17.  3202 Belt Highway, St. Joseph, MO

18.  102-106 Peter Pan Rd., Independence, KS

19.  1633 & 1749 Main St., Billings, MT

20.  1322 South Providence Center Dr., Cedar City, UT

21.  1220 N 200 West, Angola, IN

22.  1220 North Wayne St., Angola, IN

23.  1400 North Wayne St., Angola, IN

24.  2020-2040 North Main St., Bluffton, IN

25.  2216-2224 Cassopolis, Elkhart, IN

26.  350-354 Hoke St., Frankfort, IN

27.  2474-2488 E. Wabash, Frankfort, IN

28.  1748-1752 Indianapolis, Greencastle, IN

29.  1110 West Broadway, Monticello, IN

30.  1625-1633 N., Michigan Rd., Plymouth, IN

31.  3697 Portage Rd., Southbend, IN

32.  2520-2572 Walton Blvd., Warsaw, IN

33.  3005 Wiley Blvd., Cedar Rapids, IA

34.  1319 Holton Dr., Le Mars, IA

35.  5615-5623 E. Arrowhead Pkwy.  Sioux Falls, SD

36.  3410 & 3506 Ave I, Scottbluff, NE

37.  201 E. Leota St., North Platte, NE

38.  1100 North Barlow Rd., Fort Morgan, CO

About Trigild

Headquartered in San Diego with offices throughout the country, Trigild has nearly 40 years of property management and fiduciary expertise, with a focus on managing and maximizing value for assets in an array of industries, including commercial real estate, multifamily, hospitality, retail and more. Since its inception, Trigild has developed a full service national operating platform providing institutional quality services to private real estate investors and financial institutions. For information, visit www.trigild.com.

Media Contact: Sydnie Moore  (619) 823-8448  moore2com@gmail.com

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Source:Trigild
City/Town:San Diego - California - United States
Industry:Investment, Real Estate
Tags:trigild, Real Estate, property management, san diego, investment
Shortcut:prlog.org/12280464
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