Plainview, NY  May 18, 2012 – David R. Maltz & Co., Inc., Auctioneers/Real Estate Brokers has been retained pursuant to an order of the United States Bankruptcy Court to conduct a Public Auction of the fee simple interest in an 86,000 sq ft building currently leased on a net basis by Kmart and located in Reidsville, North Carolina.  The subject property consists of approximately half a strip center and benefits from an ideal mix of adjoining tenants ranging from CVS and Radio Shack to Dollar General and Food Lion.  Kmart’s lease is through 2019 and in conjunction with a Bank of America leased ATM machine on the property the annual net operating income is in excess of $295,000. The auction is scheduled for June 14th at 11:00 am and will occur at the Marriott Airport Hotel, 1 Marriott Drive, Greensboro, NC 27409.

This auction represents a unique and high yielding cash flow opportunity in a thriving region.  All parties wishing to register to bid must present a $200,000 bank certified check made payable to “Alan Nisselson, Esq., Chapter 11 Trustee”. Interested parties unable to attend the live auction are welcome to participate in online or telephonic bidding (prior registration required).  For additional information please call Richard Maltz at 516.349.7022 for details on the property and auction process.

 

About David R. Maltz & Co., Inc.,

David R. Maltz & Co., Inc., is the premier full service auction company specializing in debt related sales.  Since its inception more than 35 years ago, they have built a $100+ million a year corporation with an impeccable reputation for professionalism, honesty, integrity and success.  They have conducted thousands of auctions on behalf of such clients as the United States Bankruptcy Courts and Financial Institutions throughout the United States, The United States Department of Justice, The Internal Revenue Service, The United States Government Small Business Administration, Law Firms, Private Individuals and Corporations, nationwide. The firm is nationally recognized as a name in excellence and achievement.

Parties seeking additional information about David R. Maltz & Co., Inc.’s auction services may contact a professional team member at 516.349.7022, or visit their corporate website at www.MaltzAuctions.com.