HILCO REAL ESTATE SALES ANNOUNCES BANKRUPTCY SALE OF 23,500± SF FORMER SCHOOL ON 37± AC IN HOUSTON, TEXAS
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NORTHBROOK, Ill., May 30, 2024 ~ Houston, Texas - Hilco Real Estate Sales has announced that the bid deadline for the Chapter 7 voluntary bankruptcy sale of a former school located at 11810 Lockwood Road in Houston, Texas is set for June 27, 2024. The multipurpose facility, situated on a 30-acre parcel with an additional seven acres available for purchase, presents a unique opportunity for potential buyers.

The main building of the former school spans over 23,000 square feet and includes large and small classrooms, administrative offices, a cafeteria, gym, and performance stage. The surrounding acreage boasts amenities such as a playground, two soccer fields, and an open field for recreation. In addition to these features, the property also includes private water and wastewater treatment facilities, a private well, and a regional retention pond.

According to Hilco Real Estate Sales, the site has potential uses ranging from keeping it as a school to redeveloping it as multifamily, office or industrial space (subject to zoning approval). Its advantageous location less than a mile from Beltway 8 provides excellent connectivity to the greater Houston area and major transit hubs. The property is also conveniently located just 12 miles from George Bush Intercontinental Airport and 13 miles from the Port of Houston.

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The surrounding area offers abundant recreational opportunities with multiple state parks, lakes and waterways including Lake Houston, Sheldon Lake and the San Jacinto River. This region is poised for significant growth in the coming years making it an ideal location for both work and leisure activities.

The former school property is situated in one of Texas's largest master-planned commercial developments - Generation Park. This development spans over 4,300 acres and is home to business parks, industrial parks residential neighborhoods and community centers. Additionally, plans are underway for an industrial-focused phase two directly across Beltway 8 from the former school.

Steve Madura, senior vice president at Hilco Real Estate, believes that the property presents an exceptional opportunity for redevelopment in one of Houston's most dynamic areas. "The combination of ample acreage, modern amenities, and Houston's thriving economic environment offers unparalleled potential for future growth and innovation," he stated. "However, the site is also a potential blank canvas ideal for complete redevelopment."

The sale is being conducted by Order of the U.S. Bankruptcy Court District of the Southern District of Texas (Houston), Bankruptcy Petition No. 24-30924, In re: Holy Trinity Episcopal School of Greater Houston Inc. Interested buyers must submit their bids on or before the deadline of June 27 at 5 p.m. (CT) using the Purchase and Sale Agreement available for review and download from Hilco Real Estate Sales's website.

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For those interested in participating in the bankruptcy sale process, Hilco Real Estate Sales has provided requirements on their website. For further information on the property, sale process, and terms or to obtain access to due diligence documents, interested parties can visit HilcoRealEstateSales.com or call (855) 755-2300.

Houston, Texas is known as the fifth largest metropolitan area and fourth largest city in the United States. Its central location offers convenient access to both domestic and international markets with a world-class transportation infrastructure that includes two major international airports and one of the busiest ports in the country. The city's favorable business climate with low taxes and a relatively low cost of living attracts a highly skilled and educated workforce. Additionally, Houston's commitment to innovation supported by top-tier research institutions and a vibrant entrepreneurial ecosystem makes it an attractive destination for businesses looking for growth and sustainability.

With its prime location, modern amenities, and potential for redevelopment, this former school property on Lockwood Road presents an exceptional opportunity for buyers looking to invest in one of Houston's most dynamic areas. Interested parties are encouraged to act quickly as the bid deadline is approaching on June 27, 2024.
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