ITT Technical Institute: Electronic
Testing, Trade & Medical Training
Assets from 106 College Sites
By order of the Bankruptcy Trustee of ITT Educational Services,
Tiger Group is conducting three online auctions for furniture,
fixtures and equipment from the nationwide career college. The
assets have an estimated acquisition value of more than $10
million.
Thousands of units of electronic testing equipment; medical
training equipment; computers, network and telecom equipment;
office, lab and classroom furniture, are being offered for
sale. The assets have been consolidated from 106 locations
nationwide into three warehouse facilities in Jacksonville, Fla.,
Hagerstown, Md., and Oklahoma City, Okla.
Printpack Printing: Machinery
& Equipment from 260,000 sf
Manufacturing Plant
A joint venture of Tiger Group and New Mill Capital Holdings has
acquired the former Printpack printing plant in Hazelwood, MO.
The New York-based firms are exploring options for redeveloping
the 30-acre site for new manufacturing or distribution uses,
with incentives available to those bringing business to the city.
The 260,000- square-foot plant, which was previously used for
light manufacturing and distribution, was built in 1961 and expanded
in 1975. The site is rail-served and strategically located
near the Lambert-St. Louis International Airport, minutes from
I-70, I-270 and I-170.
“This first-class manufacturing and distribution location presents
a prime redevelopment opportunity. Our team looks forward
to working closely with the City of Hazelwood to help identify
prospects for this prime site,” said Jeff Tanenbaum, President of
Tiger’s Commercial and Industrial division.
The new owners plan to auction the remaining machinery and
equipment on-site early in the first quarter of 2017, but will be
working with prospective tenants in the interim to bring activity
back to the property as soon as possible.
Pacific Process Systems: Well Testing
& Petroleum Production Services
Tiger Liquidity Services Energy Partners (TLSEP), a strategic
alliance between Tiger Group and Liquidity Services, Inc., is
conducting a major auction of all operational oil and gas field
service equipment of Pacific Process Systems.
Online bidding is currently open at both www.networkintl.com,
Liquidity Services’ marketplace for idle and used oil and gas
industry equipment, and www.SoldTiger.com. The auction will
close in rapid succession, live auction style, at a two-day closing
on December 14 and 15, beginning at 8:00 a.m. CT each day.
Well production, test and measurement equipment assets currently
available include two and three-phase separators; scrubber,
flares, line heaters up to 1.7 million Btu; SID mount pressure
tanks, and a fleet of wireline trucks and tools. A large quantity of
pipes, fittings, joints, valves and flanges are also available. The
assets are located in Bakersfield, CA; Amity, PA; and Odessa, TX.
General Mills: 450,000 sf Food
Production Facility
A Joint Venture of Tiger Group and New Mill Capital Holdings,
both based in New York, has acquired a former dough-products
manufacturing plant in New Albany, IN from General Mills. The
transaction, which included a large portion of the production
equipment that was used in the plant, closed on Nov. 14.
“This acquisition adds to our rapidly growing joint venture, in
which we purchase high quality industrial plants on a turnkey
basis for the purpose of remarketing the assets,” said Jeff Tanenbaum,
President of Tiger’s Commercial & Industrial division. “We
look forward to a successful auction sale and to working with
the city of New Albany and state of Indiana to put jobs and economic
life back into the building.”
The new owners intend to auction the remaining equipment in
early 2017, and remarket the real estate for other food or nonfood
manufacturing uses. The building, which has numerous
loading docks and access points, sits on approximately 34.5
acres.