VIZZDA -- January 28th, 2013 -- A 27-acre contractor yard that was previously owned by the now defunct home framing Schuck and Sons, has sold to the Canadian home framing company Zytech Building Systems. The property was sold for $5,500,000 and no new debt was issued with sale. The seller was Kevin Burnett, the CFO of Sundt Companies who acquired the property through deed-in-lieu after buying their $11M debt note December 30, 2010 from Johnson Bank.
The 27 acre yard is located at 8205 N 67th Ave or the Northeastern corner of 67th, Northern, and Grand Avenues. The site contains approximately 19,000 square feet of office, 152,096 square feet of storage both enclosed and covered by canopy, and features a rail spike onsite. It was previously used as a fabrication facility for Shuck and Sons, which specialized in the home framework manufacturing.
Schuck and Sons previously acquired 7.20 acres of the property April 17th, 1979, the property was there after assembled. A rail spike totaling 1.31 acre strip on the east portion of the property was purchased 11/10/2004 for $125,000. $11,000,000 new debt with Johnson Bank was issued April 22, 2008. The note was assigned to Sundt Companies December 30, 2010. Schuck and Son's closed in the summer of 2012 and the property reverted through Deed-in-Lieu of foreclosure on July 27th, 2012.
By
By
Daniel Alpers
Director of Planning and Municipal Projects
Vizzda.com
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