Stormax USA, an Albuquerque, N.M., self-storage facility that has filed bankruptcy, will be sold during a live auction on Nov. 24. Written bids are due Nov. 21. The property will sell to the highest bidder per the court order.
The property at 100-106 Mescalero N.W. encompasses 52,887 square feet of storage space in 59 large units with ceiling heights of 14 to 20 feet. It also includes a 7,200-square-foot warehouse. Stormax USA is currently 90 percent occupied.
Louis B. Fisher III of Sperry Van Ness (SVN) Auction Services is handling the auction efforts. He earned the assignment from the U.S. Bankruptcy Court for the District of New Mexico, according to the source. David Laney of SVN RealStar Advisors LLC is assisting with the event coordination and marketing.
SVN Auction Services provides date-specific sales and special-asset solutions. It encompasses local and regional auction advisors who specialize in foreclosures, tax sales, multi-properties and bankruptcies. The company is supported by SVN International’s 800-plus commercial real estate advisors nationwide.