Trustee: An entrepreneur is going to get a real buy on this commercial property
“Of all the buildings that I have auctioned as trustee, I have never auctioned an office building as large as this one. I am expecting this building to capture the attention of bidders looking to buy a building in the heart of Shreveport.”
John Hodge U.S. Bankruptcy Trustee
The United States Bankruptcy Court will auction off a fairly large office complex next Saturday at a live auction held on the premises, according to U.S. Bankruptcy Trustee John Hodge, and many of the items inside the complex will be sold through an Internet-only auction that closes that same day.
The office complex — consisting of about 13,998 square feet — is located in the center of Shreveport at 2121 Fairfield Ave. and has previously been used for medical offices as well as regular business operations.
The real estate will be sold at a live auction held on site at 10 a.m., said Danny Lawler, the auctioneer commissioned by the bankruptcy trustee, and the moveable assets will be sold through an online-only auction that will begin to close at 2 p.m. that same day (Feb. 22).
The office complex currently has tenants that are renting part of the property on a month to month basis, Hodge said, and he says the potential commercial use of the property is virtually endless due to its prime location.
The office complex has a 100KW Onan Cummings generator that will be sold separately from the real estate at the onlineonly auction later in the day.
“This will give the buyer of the real estate the option of buying the generator and keeping it with the real estate,” said Lawler. “The generator is in ‘like new’ condition and cost the debtor over $70,000 to have it installed using grant money.”
“Of all the buildings that I have auctioned as trustee, I have never auctioned an office building as large as this one,” said Hodge. “I am expecting this building to capture the attention of bidders looking to buy a building in the heart of Shreveport.”
The buyer of the building will be required to place a $25,000 non-refundable security deposit at the time of the auction, and the buyer will have 30 days to close on the real estate.
Those wishing to buy the moveable assets through the online bidding process will be required to pay for those items immediately after the auction closes in the form of cash or a credit card. Buyers wishing to participate in the online-only auction will be required to put up a credit card when registering online.
Prospective buyers of the real estate can schedule a meeting with the trustee by appointment by calling Lawler Auction Company at (318) 929-7003. or they can simply show up for preview and inspection day on Friday, Feb. 21, between 1 and 5 p.m.
All of the items can be viewed online now by clicking on www.lawlerauction.com, where they will select “Current Auctions” in order to view the CenterPoint auction catalog.
Those wishing to participate in the real estate must appear in person at the 10 a.m. auction; however, all other assets will be sold online at www.lawlerauction.com with the lots beginning to close at 2 p.m.
Before filing for bankruptcy protection, CenterPoint used the facilities as a 211 informational services building to assist lowincome families with finding financial assistance from the government and with connecting them with many free services that are available in the area. However, CenterPoint reportedly lost federal funding and was not able to keep the not-for-profit organization operational, thus resulting in the bankruptcy filing.