BANKRUPTCY AUCTION
re: Advance Core Solutions, LLC
A 10,300+/- Sq Ft Pharmaceutical Research and Manufacturing with Quality Control Laboratories. Recently upgraded to exceed FDA standards, known as Current Good Manufacturing Facility (cGMP). All the walls are reconstructed as required by the DEA with metal screen reinforcement and the floor was reconstructed with seven (7) layer Epoxy Quartz floor. All the walls are with Epoxy paint. Brand new separate Heatex HVAC System for the manufacturing area. As required by the DEA, the facility has cameras, motion detectors, glass break detectors, complete sprinkler systems, other safety devices. The Manufacturing area has duct heaters and all rooms have differential pressure system.
Located just off the New Jersey Turnpike at desirable Exit 8 and situated on a rectangular shaped parcel measuring 374' x 380' 3.01 acres.
2016 Estimated Real Estate Taxes $42,600
Zoning
The subject property is situated within the PUD – Planned Unit Development District. This is a specialized district allowing for both commercial and residential development. The zone requires a minimum lot size of 50,000-sf and a maximum building height of 40’ for commercial properties.
The subject’s research and development use is believed to be a permitted use within the PUD and complies with the minimum lot size. In the event of partial construction it is believed the building could be rebuilt to its existing foot print.
- Jan 22 @ 11:00am EST
- Add to Calendar
Preview Dates:
- Friday, January 18, 2019 @ 10:00am - 4:00pm
- Monday, January 21, 2019 @ 10:00am - 4:00pm
BANKRUPTCY AUCTION
re: Advance Core Solutions, LLC
A 10,300+/- Sq Ft Pharmaceutical Research and Manufacturing with Quality Control Laboratories
Recently upgraded to exceed FDA standards, known as Current Good Manufacturing Facility (cGMP). All the walls are reconstructed as required by the DEA with metal screen reinforcement and the floor was reconstructed with seven (7) layer Epoxy Quartz floor. All the walls are with Epoxy paint. Brand new separate Heatex HVAC System for the manufacturing area. As required by the DEA, the facility has cameras, motion detectors, glass break detectors, complete sprinkler systems, other safety devices. The Manufacturing area has duct heaters and all rooms have differential pressure system.
Located just off the New Jersey Turnpike at desirable Exit 8 and situated on a rectangular shaped parcel measuring 374' x 380' 3.01 acres.
2016 Estimated Real Estate Taxes $42,600
Zoning
The subject property is situated within the PUD – Planned Unit Development District. This is a specialized district allowing for both commercial and residential development. The zone requires a minimum lot size of 50,000-sf and a maximum building height of 40’ for commercial properties.
The subject’s research and development use is believed to be a permitted use within the PUD and complies with the minimum lot size. In the event of partial construction it is believed the building could be rebuilt to its existing foot print.
QUALIFICATIONS TO BID
All bidders must be in possession of a $100,000 cashier’s check made payable to "Scura, Mealey, Wigfield & Heyer, LLP" to register. The $100,000 check will be turned over to the auctioneer at registration. Only bidders in possession of these funds will be allowed to participate.
BUYER PREMIUM
No Buyer Premium applies at this auction.
10% DEPOSIT
The balance of a 10% deposit due via cashier’s check within 24 hours of the auction.
CLOSING
Closing must take place within 30 days of court confirmation (time is of the essence).
ATTORNEY REVIEW & CONTINGENCIES
The high bidder shall promptly sign an Asset Purchase Agreement at conclusion of bidding. There is no attorney review period. Bids may not be subject to financing, due diligence, zoning, environmental or any other contingency of any kind except the entry of an order approving the Sale pursuant to sections 363(b), (f) and (m) of the Bankruptcy Code and the delivery of insurable title to the buyer free and clear on any liens or encumbrances. Auction is subject to court confirmation.
DEFAULT OR BREACH OF CONTRACT
Seller reserves the right to resell (buyer forfeiting deposit) the property should the high bidder not post the balance of the 10% deposit within 24 hours of auction or close within 30 days of court confirmation. In the event of a resale, the original high bidder will be responsible for any deficiency in sale price together with any incurred marketing and administrative costs.
CONDITION OF TITLE
This property is being sold “As-Is, Where- Is” with no contingencies (including but not limited to environmental & obtaining financing). The property is being sold “Free & Clear” of all liens & taxes. The auctioneer and attorneys make no representations of any kind regarding the subject property. All bidders are bidding based upon their own due diligence. It is recommended that bidders consult with an attorney in advance of auction to review these bidding procedures and the Asset Purchase Agreement.
PLEASE NOTE: WHILE INFORMATION PUBLISHED IN BROCHURE, NEWSPAPER ADS & OTHER PRINTED HANDOUTS WAS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE THE AUCTIONEERS, TRUSTEE & ATTORNEYS ARE NOT GUARANTEEING THIS INFORMATION. SALE IS BASED SOLELY ON BIDDERS RESEARCH, INSPECTION & DUE DILEGENCE. AUCTIONEER IS NOT BOUND FOR ANY ACTIONS OR STATEMENTS MADE BY ANY PERSON OTHER THAN HIMSELF.
