Industrial Portfolio Receivership

Kidder Mathews successfully completed the court-appointed receivership sale of an industrial portfolio involved in a dispute among the heirs.

The asset was comprised of ten industrial parcels located in Mount Vernon, WA. The transaction demonstrates our team’s expertise in resolving distressed real estate situations through a defined marketing process and wide market reach.

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CHALLENGE

We were engaged by a court-appointed receiver to handle the disposition process and property management of an asset involved in a dispute, requiring adherence to legal protocols and stakeholder management.

Portfolio Highlights:

• 229,900 SF across 10 parcels on 90.59 acres
• Zoned Heavy Industrial (BR-HI) – exceptionally scarce in Skagit County
• Tenants included Waste Management, Republic Services, Chemtrade, Lautenbach Recycling, and Skagit Soils.
• Vacancies included a 135,360 SF former lumber mill and other underutilized assets
• BNSF rail access with an intermodal transfer station, critical to regional solid waste logistics

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ACTION

We structured a marketing campaign that balanced the goals of the court, creditors, and market realities:

• Conducted a controlled marketing process, targeting experienced industrial investors
• Provided clear pricing and real-time market feedback to support the court's approval process
• Navigated environmental, zoning, and operational complexities
• Organized due diligence and property access for qualified buyers while ensuring tenant stability

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RESULT

Through targeted outreach and strategic negotiations, we secured buyers capable of assessing the inherent risks and capitalizing on the potential upside. The portfolio was successfully sold for $30,575,000. This transaction achieved liquidity, relieved legal burdens, and provided a path forward for the property and involved parties.

TESTIMONIAL

“As the court-appointed Receiver, I needed a team that could navigate a complex, court-supervised disposition spanning ten industrial parcels, numerous tenants, and multiple stakeholders. Erik and Mike handled the entire assignment—coordinating seamlessly with Kidder Mathews Property Management, organizing access and diligence, and running a transparent marketing and negotiation process aligned with the court’s requirements. Their end-to-end execution delivered capable buyers and a portfolio sale price of $30,575,000.”

— Robert Nall, Receiver

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