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Final Rush to Acquire Adelphia's Remaining
'Crown Jewel'
Up for Auction Online
Adelphia Communications' former headquarters building in Coudersport,
Pennsylvania grabs the attention of companies looking to relocate to the
idyllic Pennsylvanian countryside. Adelphia has chosen LFC Online, in
conjunction with the Grubb & Ellis Company, to sell its opulent former
corporate headquarters building, along with several other properties around
the country in an accelerated online auction marketing campaign.
Coudersport, PA (PRWEB) September 25, 2007 -- With less than 30 days until
the bid deadline, companies looking to relocate to the tranquil
Pennsylvanian countryside are racing to take advantage of the opportunity
to purchase Adelphia Communications' former corporate headquarters
(http://www.LFC.com/695R5) at just a fraction of its estimated value.
LFC Online (http://www.LFC.com), in conjunction with the Grubb & Ellis
Company, has been selected by Adelphia to sell their former headquarters,
along with several other properties around the country, in a "must sell,"
accelerated online auction marketing campaign. In a previous online auction
for Adelphia, LFC successfully sold over 60 properties located throughout
the United States.
Built in 2002, this striking 72,000-square-foot, three-story office
building is complete with a fully-finished basement and 80,000 square feet
of paved parking space. Its polished granite exterior is complimented by
bronzed windows, a stunning concrete and granite stairway with decorative
wrought iron railings and two massive granite pillars inviting guests to
experience the corporate opulence within.
At night, wall-wash and ground-recessed lighting illuminate the ornate
exterior brickwork. The interior of the building boasts brass, bronze,
granite, maple wood and parquet flooring and custom woodwork, including
raised panel doors and wainscot, throughout. Just off of Route 6 connecting
Coudersport to eastern and western Pennsylvania, the building is
fully-networked to house over 275 employees.
Best known for the beauty of its rural countryside, Coudersport
(http://www.LFC.com/695R5) is ideal for outdoor recreational activities
like hunting, fishing, hiking, biking, camping, boating, cross-country
skiing, snowmobiling, or just plain sightseeing, making it one of
Pennsylvania's great outdoor paradises. While its friendly atmosphere and
small-town feel add to the community's charm, it has also recently
experienced an influx of new business, including the arrival of a major
telemarketing company that bought a former Adelphia call center in the
area.
"We have actually received considerable 'quality of life' interest in this
property due to its small-town, Pennsylvania countryside location,"
comments Bill Lange, President of the LFC Group of Companies
(http://www.LFC.com). "It's very rare to find an office building of this
size and quality outside of a congested metropolitan area. The idyllic
location of this building has been a major draw for certain business owners
who are interested in a change in lifestyle for themselves and their
employees."
With the bid deadline of October 11, 2007 just around the corner, potential
buyers are urged to visit www.LFC.com/695R5 and register to bid in this
"must sell" auction.
LFC Group of Companies For over 30 years, the LFC Group of Companies has
served numerous Fortune 500 companies, real estate developers, investors,
financial institutions and government agencies by auction marketing
thousands of commercial, industrial, land and residential properties with
an aggregate value well in excess of $2 billion. www.LFC.com
Grubb & Ellis Company (NYSE: GBE) Grubb & Ellis Company is one of the
world's leading full-service commercial real estate organizations,
providing a complete range of transaction, management and consulting
services. By leveraging local expertise with their global reach, Grubb &
Ellis offers innovative, customized solutions and seamless service to
owners, corporate occupants and investors throughout the globe. For more
information, visit the Company's Web site at www.grubb-ellis.com
Adelphia Communications Corporation The Effective Date of the Plan occurred
on February 13, 2007. Adelphia Communications Corporation continues under
the management of Quest Turnaround Advisors, LLC, its Plan Administrator,
to liquidate its assets and administer its plan of reorganization. Prior to
the sale of substantially all of the consolidated assets of Adelphia
Communications Corporation and its subsidiaries to Time Warner NY Cable LLC
and Comcast Corporation on July 31, 2006, Adelphia Communications
Corporation was the fifth largest cable television company in the country.
It served customers in 31 states and offered analog and digital video
services, high-speed Internet access and other advanced services over its
broadband networks.
Cautionary Statement Regarding Forward-Looking Statements This press
release includes forward-looking statements. All statements regarding the
Company's and its subsidiaries' and affiliates' expected sources and uses
of cash, income tax positions, indemnification obligations related to the
Sale Transaction with TW NY and Comcast, settlements with the Securities
and Exchange Commission (the "SEC") and the United States Attorney's Office
for the Southern District of New York (the "U.S. Attorney") and future
course of the administration of the Plan, as well as statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will" and other similar
expressions, are forward- looking statements.
Such forward-looking statements are inherently uncertain, and readers
must recognize that actual results may differ materially from the Company's
expectations. The Company does not undertake a duty to update such
forward-looking statements. Factors that may cause actual results to differ
materially from those in the forward-looking statements include the
potential costs and impacts of the transactions and obligations associated
with the Sale Transaction with TW NY and Comcast, whether all of the
transactions contemplated by the settlements with the SEC and the U.S.
Attorney are consummated, the Company's administration of the Plan, the
tax effects of various aspects of the Plan, results of litigation against
the Company, results and impacts of the sale of the Company's assets and
those discussed under Item 1A, "Risk Factors," in the Company's Quarterly
Report on Form 10-Q for the period ended September 30, 2006 and in the
Company's Second Disclosure Statement Supplement, filed with the Bankruptcy
Court on October 16, 2006, which is currently available in the important
documents section of the Company's website at
www.adelphiarestructuring.com. Information contained on the Company's
Internet website is not incorporated by reference into this press release.
Many of these factors are outside of the Company's control. |
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