Bankruptcy trustee to auction off prime commercial property
A prime commercial property located in the center of Shreveport is scheduled to go on the auction block Saturday, Feb. 22.
United States Bankruptcy Trustee John Hodge says CenterPoint Community Services filed for federal bankruptcy protection, and he was appointed the trustee to handle the liquidation of the estate.
Hodge has hired Lawler Auction Company to conduct auctions to liquidate the assets of Center- Point, which includes both movable property as well as the real estate.
The commercial property is located at 2121 Fairfield Ave. in the heart of Shreveport, according to Hodge, and appraisal records submitted by the secured creditors reveal that the property contains about 13,998 square feet of useable heated space. The actual land consists of about 54,142 square feet of property.
Auctioneer Danny Lawler says a portion of the property is currently occupied by tenants renting the property on a month-to-month basis; however, the property has been utilized in the past to accommodate a doctor’s office, an accounting firm and the YWCA, as well as many other business types.
CenterPoint used the facilities as a 211 informational services building to assist low-income families with finding financial assistance from the government and with connecting them with the many free services that are available in the area. However, Center- Point reportedly lost federal funding and was not able to keep the not-for-profit organization operational, thus resulting in the bankruptcy filing.
The real estate is scheduled to be sold at a live auction on Saturday, Feb. 22, beginning at 10 a.m. on the property at 2121 Fairfield Ave.; however, the movable assets will be sold via an online-only auction that will end that same day (Feb. 22) beginning at 2 p.m. CST, according to Lawler.
The moveable assets include everything from a 165KW diesel generator to file cabinets, desks, copiers, computers, IT networking equipment, tables, chairs and many other assets that the organization had acquired while still in business.
Lawler says prospective buyers of both the real estate and the moveable assets can see photos, lists, terms and even place bids on the moveable property by clicking on www.lawlerauction.com. However, the bids on the real estate will only be taken by live bidders.
Buyers of the real estate must have certified funds in the amount of $25,000 on the day of the auction in order to participate in bidding on the real estate. The $25,000 will be used as a nonrefundable security deposit, and the buyer must close on the real estate within 30 days of the auction. The winning bidders of the moveable assets must pay in full immediately after the auction.
A preview and inspection date has been set for the real estate and the moveable assets on Fri day, Feb. 21, between the hours of 1 p.m. and 4:30 p.m.
For more information about this auction, access www.lawlerauction.com or call the auctioneer at (318) 929-7003.