Stock properties go on the auction block
Stock Building Supply will rid itself of 25 excess properties through a series of auctions commencing Dec. 15 and 16, according to an announcement by Newmark Knight Frank, a real estate advisory firm. The auctions, which will be handled by Tranzon Integrated Property Group, are part of “a post bankruptcy liquidation plan for a major building supply company,” according to an announcement posted on Newmark’s Web site. The Triangle Business Journal in Raleigh, N.C., identified Stock as the firm owning the properties, which are located in 14 states.
The December auctions will concentrate on Maryland, North Carolina, South Carolina and Georgia. Properties will include surplus land, industrial, warehouse and commercial with retail.
In mid-January, Trazon will be auctioning Stock surplus properties in Florida, Texas, Minnesota, Wisconsin, Pennsylvania, Michigan, Utah, Idaho, California and Wyoming. A dedicated Web site for information about the sales has been set up at www.postbauction.com.
The Raleigh, N.C.-based pro dealer operated more than 200 locations in 51 markets prior to filing for bankruptcy protection in May 2009. The company emerged from Chapter 11 in July with plans to keep 100 stores in 19 markets.