Hilco Real Estate, LLC announces December 10, 2020 as the bid deadline for former O’Charley’s restaurant located at 325 Leonardwood Drive in Frankfort, Kentucky. Well located in a strong retail corridor on U.S. Route 127 and just off I-64, the vacant restaurant site is ideal for reuse or redevelopment opportunities.
Originally built in 1998, this property enjoys a premium outlot placement within a Lowe’s Home Improvement/Walmart Supercenter-anchored center known as Poplar Creek Plaza. Set along U.S. Route 127, this highly visible location benefits from almost 22,000 VPD and is situated at the first signalized intersection off busy I-64. The area immediately surrounding this site includes a host of national tenants, from restaurants to retailers, hotels to office buildings. Nearby retailers include Aldi, Chick-fil-A, Chili’s, Frisch’s Big Boy, Hampton Inn, Holiday Inn, Kroger, Lowe’s Home Improvement, Panera Bread, Petco, Shoe Carnival, Steak n’ Shake, LongHorn Steakhouse, Starbucks, Taco Bell, Walgreens, Walmart Supercenter, and Wendy’s. The site also has proximity to employment centers, including the Frankfort Regional Medical Center as well as Frankfort’s Administrative Office of the Courts.
Frankfort, the state capital of Kentucky, has an estimated population of just under 28,000 people as of 2019. As the 11th largest city in Kentucky, Frankfort’s population is currently growing and has increased at a rate of 8.5% since the previous census in 2010. It is located 25 miles northwest of Lexington and an hour’s drive east of Louisville, and is home to the world renowned, award winning distillery, Buffalo Trace Distillery. According to the city’s website, Frankfort has previously been ranked as a top-performing small town community in the nation for new and expanding business projects, proving that Kentucky’s capital is on the rise.
Steve Madura, senior vice president at Hilco Real Estate, stated, “This site represents one of the best commercial development sites available in all of Frankfort. It has an excellent location as it’s surrounded by many other well-known and successful retailers.” He continued, “Frankfort is growing, and this vacant property offers a new, exciting opportunity for investors and end-users alike!”
The bid deadline is scheduled for Thursday, December 10, 2020. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco’s website. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to smadura@hilcoglobal.com.
For more information on how to view each of the properties and schedule on-site tours, please contact Steve Madura at (855) 755-2300 or smadura@hilcoglobal.com.
For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
