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Monday, January 9, 2012

Yellow Freight property up for auction

Source: The Capital-Journal | CJOnline.com

An industrial property at 2000 S.E. Rice Road is up for auction, according to an announcement made Monday.

Chicago-based NRC Realty & Capital Advisors, LLC, said in a news release that it had been retained to auction off the property by Overland Park-based YRC Worldwide Inc., a provider of transportation and global logistics services.

Shawnee County appraisal records list the property's owner as Akron, Ohio-based Yellow Freight Systems and its value at $461,700.

Monday's news release said the property includes a 22-door cross dock terminal and is located on a 10.76-acre site, with 1,750 square feet of office space and 9,030 square feet of dock area.

The Topeka property is part of a larger sale of 61 sites located primarily in the southeast and Midwest, according to Monday's release.

It quoted Jamie Pierson, chief financial officer of YRC Worldwide, as saying: "Our vacant sites are currently a liability with substantial holding cost, maintenance and real estate taxes. We have chosen the auction process to monetize these properties and turn a liability into an asset which can be quickly reinvested in our business. Some of these sites have been on the market for over three years, and YRC Worldwide is marking them down to sell."

The release said a March 15 bid deadline was set for the properties, which would be sold through NRC's "buy one, some or all" sealed bid format. To view property information and receive sale updates, register online at www.nrc.com/1120.