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Zetabid Announces Public Auction of Central Connecticut Medical Office Complex Ideally Located Near Hospital

NEW BRITAIN, Conn. & LOS ANGELES--(BUSINESS WIRE)--

Heritage Zetabid Realty & Auction Services, a division of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP), announced today the sale at public auction of the Hart Medical Center at 40 Hart Street in New Britain, CT by order of the lender. The 57,000 square foot medical office complex is located across the street from The Hospital of Central Connecticut.

The online sealed-bid auction is scheduled to take place August 13 – 16, 2018 and will be conducted at www.zetabid.com. The minimum opening bid is $399,999 and there is no reserve price. As always, broker cooperation is welcomed to qualified brokers representing their client.

Michael Davin, Managing Director of Zetabid commented, “The upcoming auction of the former Hart Medical Center represents an outstanding investment opportunity for medical office users, commercial real-estate developers as well as other strategic buyers to acquire a prime office complex. The main building, built in 1990, is complete with elevator service and parking capacity for 340 vehicles. While the property is now vacant, the starting purchase price is below eight dollars per square foot, which is equivalent to roughly one year’s rent for a typical office tenant in this market. Only a few modest enhancements would be required to attract new tenants to this ideally located office building.“

Site tours may be arranged with advanced notice by appointment. Qualified buyers may also access a robust vault of due diligence materials online. For more information, please visit www.zetabid.com.

About Heritage Zetabid Realty & Auction Services

Heritage Zetabid Realty & Auction Services, a division of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP), conducts real estate auctions of estate homes and commercial real estate. Zetabid principals have sold a billion dollars’ worth of real estate. Zetabid was initially founded by the Tribune Company (Los Angeles Times Media Group), DoveBid and CataList Homes.

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