Real Estate Sales Case Studies

Quantum Foods (3) Meat & Poultry Processing & Packaging Facilities Bolingbrook, IL- USA

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SITUATION: Schneider Industries in partnership with Tiger Group was hired to sell Quantum Food’s state-of-the-art meat & poultry processing & packaging equipment by order of the US Bankruptcy Court. The assets were scheduled to be offered and sold during a three day onsite and online auction event.

SOLUTION: Prior to the auction date, Schneider and Tiger sold the equipment and inventory formerly owned by bankrupt Quantum Foods located in three Bolingbrook facilities as a turnkey operation to West Liberty Foods, L.L.C. In separate transactions unrelated to the bankruptcy but also directed by Schneider and Tiger, West Liberty agreed to purchase the three Bolingbrook buildings that housed Quantum’s operations. The company purchased the 220,000-square-foot production facility and 80,000-square-foot culinary facility, and leased the 250,000-square-foot cold-storage distribution center. As a result of the transactions, Schneider and Tiger cancelled a live webcast auction for the former Quantum assets that had been scheduled for June 24, 25 and 26. “We were very pleased to see the deal completed as a single turnkey operation,” said Michael Pizette, chief credit officer of secured lender Crystal Financial LLC.

Tacasa a division of Philip Morris Tobacco Plant Guatemala City, Guatemala

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SITUATION: Tacasa’s facility located in Guatemala City, Guatemala closed its doors the end of 2012 leaving the real estate unoccupied and equipment sitting idle. Tacasa wanted to sell their 500,000 square tobacco plant and all surplus assets as a package to the highest offer. The plant also had on its property a 100,000 square foot plastics operation loaded with equipment.Tacasa

 

SOLUTION: Tacasa called on Schneider Industries to utilize our experience and expertise in international marketing to find a buyer for the facility. After the deployment of a targeted and effective marketing campaign, Schneider Industries had several prospective buyers and interested parties. Schneider Industries and Tacasa accepted the best offer out of numerous proposals. Tacasa was more than happy to close on the sale of the property. Leaving a win-win situation for all parties involved.

Advance Pierre Foods, USDA frozen food plant, Orange City, IA- USA

Sold in Conjunction with

cbre

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SITUATION: Advance Pierre Food’s facility located in Orange City, Iowa closed its doors leaving the real estate and the majority of the production equipment sitting idle.

Advance Pierre Foods wanted to sell their 186,968 square foot frozen food plant and all surplus assets as a package to the highest offer. An end user in the frozen food industry would give the highest and best offer due to the specialization of the building and machinery.sch_0

SOLUTION: Advance Pierre Foods called on the synergy of Schneider Industries and CBRE to find a willing and able buyer for the facility. After the deployment of a targeted and effective marketing campaign, Schneider Industries and CBRE received a hand full of offers for the package. In less than nine months, an acceptable offer was presented to Advance Pierre Foods who was more than happy to close on the sale of the package.

Jae Gee Wood Wood Working Facility Anahuac, Nuevo Leon- Mexico

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jae-gee-woodSITUATION: Jae Gee Wood owned a woodworking facility in Anahuac, Nuevo Leon, Mexico, consisting of real estate and equipment. The plant was located in a very difficult area in Mexico, on the border with the United States. The real estate consisted of 250,000 sq ft facility on 120 acres of land. The facility was still running while Jae Gee Wood was pursuing to sell as a turnkey operation.

SOLUTION: Jae Gee Wood hired Schneider Industries to manage and assist in the sale. A carefully researched marketing campaign was executed to promote and advertise the manufacturing plant. Schneider Industries implemented a sealed bid sale followed by a public auction. At auction day a buyer proposed to buy the entire plant as a turnkey operation. The plant was never closed and Schneider was able to find a buyer that was interested to continuing the business.

EnerDel; Fort Lauderdale, FL, USA: Manufacturing Plant Closure

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enerdelSITUATION: EnerDel owned a lithium ion battery production facility in Ft Lauderdale, FL that produced small format battery cells.  EnerDel was exiting that  market and no longer had need for the  30,000 sq. ft. building or the assets.   EnerDel was expecting to scrap the machines, designed in 2004, due to their specialized nature. EnerDel needed to hire a full service firm that could maximize the value of the assets and manage the removal and plant clean-out in a three-month expedited time-frame.

SOLUTION: EnerDel hired Schneider Industries (SI)  to handle the sale of the real estate and equipment.  We implemented a two-phase program.  Phase One was to market the facility as an on-going operation, in part because of the soft real estate market in Florida in summer, 2011. Phase Two was to market the equipment and real estate separately. Several bidders made offers on the equipment  through an auction format; EnerDel received three times the scrap value they were expecting to receive. Schneider Industries sold the building separately under a traditional sale listing to a client of Sperry Van Ness Commercial Realty.

EnerDel was very pleased with the results and hired SI to manage another sale of excess equipment from their Indianapolis facility.

MGP Ingredients; Atchison, KS, USA: Processing Plant Closure

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mgpSITUATION: MGP Ingredients no longer needed to run their pet-treat processing facility in Kansas City, KS leaving them with real estate, equipment, product lines, customer lists, existing clients, and R & D formulas.

SOLUTION:
MGP contracted with Schneider Industries (SI) to help them sell the 150,000 square foot building complete with machinery and equipment. SI marketed the assets to pet food processing companies all across the United States.  Sergeants Pet Care purchased the real estate and surplus assets as a complete package.

South Louisiana Ethanol; Jesuit Bend, LA, USA: Bankruptcy

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SITUATION: South Louisiana Ethanol (SLE) filed a motion with the United States Bankruptcy Court for approval of a private sale and public auction of real estate and all available assets located in Louisiana to pay expenses owed to Whitney Bank in New Orleans, LA.

SOLUTION: Whitney Bank filed an application to employ and retain Schneider Industries as the firm to dispose of SLE’s assets including all machinery and real estate. The 129,000 sq. ft. plant, including all buildings and structures,  plus about 49 acres with dock building capabilities on the Mississippi River as well as half the rights of an adjoining 4.5 acres on the river front property, and all equipment was offered through a sealed bid sale managed by Schneider Industries.  An auction was scheduled if a sealed bid offer was not accepted. Schneider Industries obtained three bids. Whitney Bank was happy to accept the high bid which came in over the appraised value of the total assets.

Dimmitt Wet Corn Mill;  Dimmitt, TX, USA: Foreclosure

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SITUATION: Lubbock National Bank foreclosed on a complete wet corn mill including the equipment, machinery, building with an almost 26 acre parcel and about 1,200 acres of dry farm land. Lubbock National Bank tried for over a year on their own to sell this turn-key property before hiring Schneider Industries (SI).

SOLUTION: After a implementing a carefully researched and focused marketing campaign, SI located six potential buyers who all made offers on the complete operation. After thorough consideration of all offers, Lubbock National Bank accepted the highest and best offer from an end user, Dimmitt Corn Mill, LLC, makers of corn starch and corn gluten. The selling price was significantly over the appraised value.

Ach Food Companies, Inc.; Cordova, TN, USA: Processing Plant Closure

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SITUATION: Ach Foods closed its edible oil and shortening processing facility in Champaign, IL, and hired Schneider Industries to manage an orderly negotiated sale of the processing plant located on 35 acres and all machinery and equipment.

SOLUTION:  SI was successful in selling all the equipment  in a little over six-months and secured a buyer to purchase the building.

Bumble Bee Foods LLC; Violet, LA, USA: Processing Plant Closure

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SITUATION: Hurricane Katrina severely damaged the Bumble Bee Foods processing plant in Violet. Because of the cost associated with rebuilding, Bumble Bee decided to sell the equipment, machinery, and real estate.

SOLUTION: Bumble Bee Foods contracted Schneider Industries (SI) to assist in the sale of the 135,000 square foot building located on four acres, as well as all machinery and equipment. This was not the first time Bumble Bee called on SI to help get the most return for their surplus assets. The sale of the equipment and machinery was successful.  Immediately following this sale, SI procured an offer on the real estate that Bumble Bee was happy to accept, leading to a successful closing of the property.

Grupo Herdez; Ensenada, Mexico: Plant Closure

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SITUATION: When a Schneider Industries Representative contacted Grupo Herdez to discuss managing a complete investment recovery program, Herdez jumped on board with hopes of receiving maximum value for their 200,000 square foot building, machinery, and equipment in Ensenada.

SOLUTION: SI managed an online and onsite auction event offering Herdez’ surplus assets at auction. Bidders competed on the floor and assets were sold to the highest bidder.   Herdez was so pleased with the outcome of the sale that they hired SI to manage all their surplus asset sales.

Thermadyne; Rio De Janeiro, Brazil: Plant Closure

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SITUATION: Thermadyne was a major manufacturer of welding and cutting products; it changed names to Victor Technologies in 2012. Prior to this time and after a year of negotiations with White Martins, the corporation that owned adjoining property, Thermadyne was unable to close the sale of their real property.

SOLUTION:  They hired Schneider Industries (SI) to sell all of their personal property at auction.  SI managed a very successful equipment and machinery auction which led Thermadyne to ask SI to sell their real property, as well, but the sale had to be negotiated within three months through a sealed bid sale, subject to seller confirmation.  Within the time-line given, SI was able to present three proposals from interested buyers who were all competing with each other to purchase the building. The property was successfully sold.

Oelwein Industries; Oelwein, IA, USA: Foreclosure

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SITUATION: Community Bank of Oelwein foreclosed on Oelwein Industries, a manufacturer of heavy duty tool chests and cabinets for the medical and industrial industries.  For two years, The Bank of Oelwein attempted to sell Oelwein Industries without success. The property included a 38,000 sq ft building on 5.5 acres, a product line consisting of inventory and drawings, and equipment consisting of medal fabrication equipment. The bank had estimated a value of all the property.

SOLUTION: The Bank of Oelwein contacted Schneider Industries (SI)) to assist in the sale of the business. At auction, SI secured a buyer from Minnesota that resulted in an equitable net return to the bank, creating a win:win situation for all parties involved.

 

 

Fedders Corporation; Liberty Corner, NJ, USA: Plant Closures

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SITUATION: Fedders Corporation is a major manufacturer of air conditioning and filtration products. For two years, an international real estate company attempted to sell Fedders’ Nashville/Columbia TN  property through a traditional listing; the broker failed to present a suitable offer.  Fedders hired Schneider Industries (SI).

SOLUTION:  SI conducted  auctions of the machinery and equipment  at a factory in Effingham, IL and equipment and machinery  for their injection molding factory in Tennessee, as well as the real estate at this site.

SI sold all machinery and equipment in both facilities and also successfully offered and sold the  Tennessee real estate at auction.  The company was very pleased with the results.

Takata Corporation; Tokyo, Japan: Plant Closure

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SITUATION: Takata, a manufacturer of air bags, relocated their Monclova manufacturing facility in Coahulla, MX, and was left with a building that was no longer needed.  Schneider Industries (SI) stepped forward.

SOLUTION: After only a few short months of marketing the property and with negotiations between Schneider Industries and a handful of interested buyers, a successful closure was made to sell the  330,000 square foot building located on 44.5 acres.

All Brands Equipment Company; Baton Rouge, LA, USA: Site Closure

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SITUATION: After sitting on the market for one year through a traditional real estate listing, All Brands needed to get reasonable offers quickly for the sale of their real estate,machinery and equipment at their site in Centralia, IL.

SOLUTION: Schneider Industries (SI) was hired to manage an accelerated marketing program for this sale, at auction.  Two months after the signed agreement between the All Brands and  SI, the All Brands property was successfully sold and All Brands was very pleased with the results of the auction process.