NORTHBROOK, Ill., May 30, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces June 27, 2024 as the bid deadline for the Chapter 7 voluntary bankruptcy sale of this former school located at 11810 Lockwood Road in Houston, Texas. The multipurpose facility sits on a 30-acre parcel with an additional, adjacent seven acres available for purchase.
The school's main, 23,568± SF building consists of large and small classrooms, administrative offices, a cafeteria, gym and performance stage. The surrounding acreage features a playground, two soccer fields and an open field for recreation. Also included on the parcel are private and self-sufficient water and wastewater treatment facilities, as well as a private well and a regional retention pond. Potential uses for the site include keeping it a school or redeveloping it as multifamily, office or industrial space, subject to zoning approval.
One of Texas's largest master-planned commercial developments, Generation Park, sits immediately north of the property. The initial site is comprised of 4,300 acres and is home to business parks, industrial parks, residential neighborhoods and community centers. Additionally, an industrial-focused phase two is planned to be built directly across Beltway 8 from the former school.
The property's advantageous location, less than a mile from Beltway 8, ensures excellent connectivity to the greater Houston area and major transit hubs. It is situated just 12 miles from George Bush Intercontinental Airport and 13 miles from the Port of Houston. 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, making it an ideal location for both work and leisure activities.
Houston, Texas is the fifth largest metropolitan area and fourth largest city in the United States. From 2021 to 2024, the metropolitan area population grew 4.79%. Its central location offers convenient access to both domestic and international markets, facilitated by a world-class transportation infrastructure that includes two major international airports and one of the busiest ports in the country. Additionally, Houston's favorable business climate, characterized by low taxes and a relatively low cost of living, attracts a highly skilled and educated workforce. The city's commitment to innovation, supported by top-tier research institutions and a vibrant entrepreneurial ecosystem, further enhances its appeal as a prime destination for businesses aiming for growth and sustainability.
Steve Madura, senior vice president at Hilco Real Estate, states, "This former school property on Lockwood Road 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. 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. Bids must be received on or before the deadline of June 27 at 5 p.m. (CT) and must be submitted on the Purchase and Sale Agreement available for review and download from Hilco Real Estate Sales's website.
Interested buyers should review the requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate Sales's website. For further information, please contact Steve Madura at (203) 561-8737 or smadura@hilcoglobal.comand Michael Kneifel at (847) 201-2322 or mkneifel@hilcoglobal.com.
For further information on the property, sale process, and terms or to obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.
About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.
The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.
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SOURCE Hilco Real Estate
