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Posted by Alex Finkelstein 02/20/09:57 AM ESTAuthor Bio / ArchivesRelated Stories:

Circuit City Liquidation Ready to Roll on Over 5 Million SF of Inventory at 8 SitesMAIN PAGE / US MARKETS >> COMMERCIAL REAL ESTATE

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(GRAND RAPIDS, MI) -- it's being billed as one of the biggest retail li-quidations in recent memory - 5.5 million square feet of inventory at Circuit City's eight distribution cent-ers, four service centers and two corporate offices.

The national print and electronic advertising schedule is scheduled to begin this weekend. Sales at the eight locations are expected to be closed quickly.

The Melvin family of Liquid Asset Partners LLC in Grand Rapids, MI beat out five competitors for the liquidating contract. Bill Melvin Jr., CEO of Liquid Asset Partners, is coordinating the event.

Liquid Asset Partners won the sales contract on Feb. 17. Rivals included a joint venture comprised of SB Capital, Tiger Capital, Hudson Capital, Great American and JG Resources.

Melvin says he believes his firm was selected "because it made the bid which provides Circuit City with the best return for creditors."

He says the inventory includes "thousands of sections of pallet racking; hundreds of fork lifts; very modern conveyor systems; scanning equipment; and the entire contents of the corporate offi-ces, including cubicles, desks, chairs, computers, laptops, printers, supplies and thousands of other Items.

"My family and I have been doing this type of work for over thirty years. Our experience in dealing with large facilities of warehouse and office equipment is unmatched and our ability to bring a wide variety of equipment to market quickly was a major consideration in the bidding."

Melvin says, "It's our job to pick up the pieces from the ground and put them back into use in the marketplace. These facilities are full of newer electronics, conveyor systems, and warehouse and office equipment. It's going to be an opportunity of a lifetime for any buyer."

He says, "Due to the short window of time allowed for the sale,

Bill Melvin Jr.

Liquid Asset Partners will be soliciting offers from all interested buyers and making sales rapidly regardless of cost or loss.

"These facilities are enormous and must be emptied in a very short time, so Liquid Asset Partners will listen to any and all offers." He says "the corporate offices alone are over 680,000 square feet and have millions of dollars worth of equipment to be sold in a matter of weeks."

Melvin says, "Anyone interested in warehouse equipment, material handling equipment, or office equipment should make contact with us immediately. This is an opportunity for buyers to purchase equi-pment for their homes or businesses at a fraction of the cost of new products."

Circuit City's corporate offices are at 9950 Mayland Dr., Richmond, VA. The Distribution Centers are at:

Location Numbers, Names, Addresses, & Total Square Footage are listed below:

Together with about $400 million remaining from a $1.3 billion cre-dit line obtained before the bankruptcy filing, Circuit City estimated it should have enough financing to make it through the 2008 holi-day shopping season.

The company also told the Bankruptcy Court it planned to emerge from bankruptcy protection by the first half of 2009.

But that never happened. Many suppliers refused to deliver pro-ducts. And, in realty, the Chapter 11 became a Chapter 7 liquida-tion filing.

755 Marion DC 1100 Circuit City Rd, Marion, IL 1,078,450

353 Industry DC 680 S Lemon Ave, Walnut, CA 918,848

567 Ardmore DC 1901 Cooper Dr, Ardmore, OK 754,000

775 Orlando DC 19925 Independence Blvd, Groveland, FL 710,000

255 Bethlehem DC 4000 Township Line Rd, Bethlehem, PA 640,000

344 Livermore DC 400 Longfellow Court, Livermore, CA 615,078

335 Mid-Atlantic DC 14301 Mattawoman Dr, Brandywine, MD 394,492

379 Walnut DC 501 S Cheryl Lane, Walnut, CA 404,492