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.