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AmeriBid LLC to Conduct Auction of High Visibility Six Story Office Building Off I-95

WILMINGTON, Del., June 4, 2013 (GLOBE NEWSWIRE) -- AmeriBid LLC (www.ameribid.com) announces the auction of a nearly 90,000+/-sf office building located in the central business district between federal, state and county offices and courthouses. "This is a prime opportunity to own six floors of incredible office space," states Eugene Davidzon, Regional Director for AmeriBid. "Because of the sheer amount of space available, we're expecting creative buyers at the auction that are willing to give this property a boost. The location just can't be beat; it is just behind the DoubleTree Hilton hotel and next door to city and county offices. Not to mention it is just a block from Wilmington's resurging Market Street!"

This property will be auctioned on-site at 704 North King Street in Wilmington on Tuesday, June 25th at 11:00am EDT. Features of the building include 86,408+/-sf divided amongst six stories, a plethora of offices, kitchens and bathrooms on each floor, a gorgeous entry with reception area, a huge courtyard and common areas. The ceilings are 12' high and the building supports significant weight. Underground parking is available from the Wilmington Parking Authority with direct, secure access to the building from the parking garage.

While the property is currently used as an office building, it has potential for multiple other uses under the C-4 Zoning. Permitted uses as a matter of right include office, retail uses, medical or dental laboratory, family and group day care homes, private club as well as other potential uses.

Located in New Castle County and in downtown Wilmington, the property is within a short distance of Peter Spence Plaza, Market Street, and the Delaware College of Art & Design. It sits just 1 block from the City of Wilmington offices, the US District Court, and the New Castle County Courthouse. It is just 8.6 miles from the New Castle Airport and less than one mile from I-95 and less than 2 miles from I-495. The property produces income and is occupied by quality tenants.

A 10% Buyer's Premium applies. Subject to registration requirements, a 3% cooperating broker fee is offered. There are inspections scheduled for the property, visit www.ameribid.com for detailed dates and times. To receive more details and complete terms, please visit www.ameribid.com or call 877.895.7077. You may also contact Eugene Davidzon directly at 703.982.0852 or eugenedavidzon@ameribid.com.

Headquartered in Tulsa, Okla., AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies.

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CONTACT: Media Contact: Michelle Baker 877.895.7077

Source: AmeriBid