BlueLinx Announces $17.7 Million Sale of California Real Estate
BlueLinx Holdings (NYSE: BXC), announced today the sale of its distribution center located in Newark, California. The approximately 235,000-square-foot distribution center sold for $17.7 million. The Company expects to record a gain of approximately $9.1 million related to this transaction in the third quarter of 2012 as a reduction of operating expense.
"We are excited to complete the sale of this property that strengthens our balance sheet and positions us to strategically grow our business. We plan to relocate in the surrounding area by the end of the year to continue serving the Northern California market," said BlueLinx CFO Doug Goforth.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.