Woltz & Associates, Inc. - Real Estate Brokers & Auctioneers

This well-maintained 139,100± sq. ft. building on 15.6± acres located in the Eden Industrial Park offers excellent access to the Triad Region’s highways and railroad. The building, which includes manufacturing, warehouse and office space, was
constructed in two phases. The original portion, with 83,627± sq. ft., was built in 1992 and the 55,542±- sq. ft. expansion was completed in 1998. Office space, restrooms, employee break room and first aid room comprise approximately 8,383± sq. ft. of the building. Construction is tilt-up concrete/masonry with 18 ft. exterior walls and an estimated ridge height of 20 feet in the manufacturing and warehouse areas. The office area was painted and new windows and carpet were installed in 2006. The exterior is currently being painted.

There are sixteen exterior overhead doors; thirteen are dock- height and eight have levelers. There are three drive-in doors. The office and manufacturing sections are air-conditioned and the manufacturing section is equipped with air compression lines. The entire building is heated and has a sprinkler system. Electrical service is 5,000 amps, 3-phase, 4-wire, 277/480 volts. Water and sewer service is supplied by the City of Eden, electrical service by Duke Power Co. and natural gas by Piedmont Natural Gas Service.

The property is zoned IP-1, Industrial Park District, a classification which permits a variety of uses, a few of which include manufacturing plants, warehouses, recreation facilities, private clubs, food processing plants, bakeries and builders supply facilities. The property is identified as Rockingham County Tax Parcel ID 108219 and has a tax assessed value of $2,931,454, $415,800 attributed to the land and $2,515,654 to the improvements. The property will be sold to the highest bidder whose bid is $1,000,000 or more.

The current annual rent is $243,249.96 with a January 31, 2008, lease termination date.

Location & Access:
Eden is in the Piedmont Triad area which is comprised of twelve counties centered on the cities of Greensboro, Winston-Salem and High Point. The property is located approximately 40 miles northwest of Greensboro, 42 miles northeast of Winston-Salem, 70 miles southeast of Roanoke and 120 miles northeast of Charlotte. Major thoroughfares include U.S. Highways 29, 220 (future I-73), 311 and 158 and North Carolina Highways 14/ 87 and 700/770. The property is approximately 35 miles north of Piedmont Triad International Airport, where a FedEx hub is being constructed. Rail service is available to the property. For economic and other information regarding the Piedmont Triad region, visitpiedmonttriadnc.com. For information regarding Eden, visit edenchamber.com.

Documents:
Tax Map (PDF format)
Assessor's Card (PDF format)
Zoning (PDF Format)
Current Lease (PDF Format)
Eden Industrial Center Guidelines (PDF format)
Phase 1 Executive Summary & Update (PDF format)
Title Commitment (PDF format)
2006 Appraisal (PDF format)

Directions to Property:
From U.S. Route 220, turn onto Highway 87 South and go 8.8 miles into the City of Eden. Turn onto Rt. 700/770 East (Meadow Rd.) toward the Industrial Area. Follow Rt. 700/770 East (Meadow Rd.) for 1.4 miles and turn right onto Rt. 700 East (Fieldcrest Rd.). Property is .10 mile on the right. Property Address: 750 Fieldcrest Road, Eden, NC 27288.

Broker Participation:
Any broker actively licensed in the State of North Carolina whose agent properly registers the successful high bidder will be paid a two percent (2%) commission at settlement. Registration must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well a Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on Thursday, December 6, 2007. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent. Broker Participation Form - Fax to 540-342-3741 by NOON EST on December 6, 2007.

Basic Terms & Conditions:

REGISTRATION: Bids will be accepted only from registered bidders. Registration begins on site at 11:00 AM. Please bring a driver’s license for identification.
TERMS OF SALE: All property is sold “AS IS, WHERE IS.” Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL. The Property is being sold subject to Seller confirmation; however, the Seller will confirm the sale of the property to the highest bidder whose bid is $1,000,000 or more.
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, MINGLEWOOD CORPORATION.
ANNOUNCEMENTS: Announcements day of sale take precedence over all prior releases, verbal and written, concerning this sale.
BIDDING: The auctioneer will determine bid increments.
BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the sale price.
DEPOSIT: A deposit in the amount of ten percent (10%) of the sale price (high bid plus Buyer’s Premium) will be required on day sale. The deposit is payable by cash, cashier’s check. pre-approved personal check made payable to Woltz & Associates, Inc. or wire transfer into Woltz & Associates, Inc. Escrow Account on sale day. Personal checks will be approved if the Buyer presents, at time of registration, a letter from its bank stating that the Buyer is a customer of the bank and that the account on which the check is drawn is in good standing.
CLOSING DATE: The balance of the purchase price is due at settlement on or before January 7, 2008.
TRANSFER OF TITLE: The real estate will be conveyed by general warranty deed free and clear of liens subject, however, to any rights of way, easements, conditions and restrictions of record.
BIDDER PACKET: A Bidder Packet with information regarding the property is available from the Auction Company.
BOUNDARY LINES AND OTHER INFORMATION: Boundaries shown on aerial photographs, which are provided by the Auction Company as a courtesy to prospective bidders, are approximate. Bidders should refer to the survey provided in the Bidder Packet for boundary locations. The information contained in this brochure is subject to verification by parties relying upon it. No liability for its accuracy, errors or omissions is assumed by the Auction Company or Seller.

Contact:
Woltz & Associates, Inc. (NC# 5283) at 540-342-3560 or 800-551-3588 Send questions or comments.