CLOSED | Industrial Facility in Lubbock, TX

USDA-Certified Food Processing and Cold Storage Facility
What Can Hilco Real Estate Do For You?

$17 Million Closing Price

18% Over Appraisal

75 Days Total Marketing Period


Hilco Real Estate, LLC, (HRE) was chosen as part of a competitive process by Alamo Dynamic, LLC, a private equity-backed food producer, to monetize a turnkey, USDA-certified, cold storage facility located in Lubbock, Texas. The property consisted of 224,000± SF across five buildings set on 16.38 sprawling acres. 

The pandemic took its toll on the business, as Dynamic Foods’ main contractual partner, a food manufacturer/provider to buffet restaurants across the country, filed for bankruptcy in spring of 2021. Without this tenant, the facility was only running at about 20% capacity, which led to ownership’s decision to sell the facility and all its associated assets.


Due to the property’s tertiary location, the environmental challenges associated with the site and the tight deadline, the seller was uncertain of the ultimate recovery a sales process could yield.

HRE’s institutional knowledge regarding brownfields and how to mitigate environmentally challenged properties proved invaluable. Upon reviewing the flagged area, HRE realized that the majority of the parcel remained unaffected. As such, the HRE team developed a unique, phased closing strategy to accommodate the seller’s need for a quick sale and the buyer’s desire to begin retrofitting the facility on a specific timeline. The phased closing plan also allowed for the Seller to responsibly address the ongoing remediation prior to transferring the impacted parcel to the new buyer.


With a closing price of $17 Million, HRE’s strategic sales process exceeded seller expectations.

HRE immediately implemented a targeted national marketing campaign that, in just under three months, garnered over 80 direct inquiries from sophisticated buyers (many who were end users), nine tours with well-qualified groups and three viable offers. HRE then conducted a multi-phased competitive bid process in which the ultimate price exceeded $17,000,000, far beyond the anticipated sale price.

Chet Evans, vice president of Hilco Real Estate, said of the sale, “We are thrilled that the sale will allow Tropicale to utilize the highly sought-after cold storage component of the facility, and more importantly, bring back jobs to the area that were lost when the previous operator closed its doors. Simultaneously, our strategic sale process allowed the seller to maximize the property’s value and limit time and costs that would be typical in a conventional sale process, while thoughtfully addressing the environmental obstacles that could have otherwise thwarted the sale.”

80 Direct Inquiries

9 Tours with Well-Qualified Groups

3 Final Offers

Purchase or Sell with HRE

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Hilco Real Estate (HRE)

assist clients monetize their assets, selling more than 200 million square feet of retail, industrial and office properties. With over 35 years of combined experience working alongside both lenders and investors in the sale and acquisition of every type of asset, our advisory team is an industry leader. We maximize property values in tight timeframes via auctions, note/loan sales, brokerage or potential repurposing solutions.

Passive liquidation management can lead to missed opportunities for substantial recoveries, especially during rocky economic circumstances. Don’t allow real estate assets to become liabilities – we can expedite transactions offering stable footing in this environment and ensuring unparalleled recovery opportunities.


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