SAN DIEGO...Trigild – a San Diego-based real estate firm specializing in property/asset management and fiduciary services, has been appointed liquidating trustee for a $50 million portfolio of 37 strip centers encompassing 600,000 square feet of retail space.
According to Josh Hall, Trigild’s regional director of real estate/east, Trigild was appointed liquidating trustee by Judge Harry C. Dees Jr., U.S. Bankruptcy Court, United States Bankruptcy Court Northern District of Indiana, South Bend Division, and will now seek to maximize recovery and liquidation of this real estate and other assets on behalf of creditors.
In June, Coldwater Portfolio Partners, LLC, tapped Trigild to take over day-to-day operations – including lease administration and maintenance operations – for the properties, located in 17 states throughout the Southeast, West and Midwest, including Iowa, Colorado, Michigan, Illinois, Michigan, Louisiana, Wisconsin and Indiana.
In this next phase, Trigild will research – and ultimately facilitate – disposition options for the properties. “We will facilitate the disposition via a third party broker as well as research options which will create the most value for our client,” said Brian Morelan, managing director of commercial real estate for Trigild.
According to Hall, the retail centers range from 9,000 to 37,000 square feet, consist of two to seven tenants and are shadow anchored by a Wal-Mart Super Store. “The centers are well occupied, with high profile tenants such as Dollar Tree, GameStop and Radio Shack,” he said.
“Our role in this large portfolio solidifies our growing national presence, as well as our capabilities across all asset classes,” Hall added.
The properties are located at:
1. 224-231 West McCoy St., Tomah, WI
2. 504-503 S. Dunlap Road, Savoy, IL
3. 114 Centerville Rd., Sturgis, MI
4. 1350-1358 Centerville Rd., Sturgis, MI
5. 355 S. Willowbrook Rd., Coldwater, MI
6. 354 E. Chicago St., Coldwater, MI
7. 12547 State Route 143, Highland, IL
8. 1651-1659 Highway 10 West, Detroit Lakes, MN
9. 1151 Ryans Rd., Worthington, MN
10. 200 Production Dr., Lafayette, LA
11. 1867-1896 US Hwy 82, Tifton, GA
12. 621-627 12th Ave., Norman, OK
13. 173 Tovera Rd., Alvin, TX
14. 12950 Willow Centre Dr., Houston, TX
15. 3530 & 3450 W. Sunshine St., Springfield, MO
16. 1212-1314 Independence St., Republic, MO
17. 3202 Belt Highway, St. Joseph, MO
18. 102-106 Peter Pan Rd., Independence, KS
19. 1633 & 1749 Main St., Billings, MT
20. 1322 South Providence Center Dr., Cedar City, UT
21. 1220 N 200 West, Angola, IN
22. 1220 & 1400 North Wayne St., Angola, IN
23. 2020-2040 North Main St., Bluffton, IN
24. 2216-2224 Cassopolis, Elkhart, IN
25. 350-354 Hoke St., Frankfort, IN
26. 2474-2488 E. Wabash, Frankfort, IN
27. 1748-1752 Indianapolis, Greencastle, IN
28. 1110 West Broadway, Monticello, IN
29. 1625-1633 N., Michigan Rd., Plymouth, IN
30. 3697 Portage Rd., Southbend, IN
31. 2520-2572 Walton Blvd., Warsaw, IN
32. 3005 Wiles Blvd., Cedar Rapids, IA
33. 1319 Holton Dr., Le Mars, IA
34. 5615-5623 E. Arrowhead Pkwy. Sioux Falls, SD
35. 3410 & 3506 Ave I, Scottbluff, NE
36. 201 E. Leota St., North Platte, NE
37. 1100 North Barlow Rd., Fort Morgan, CO