BlueLinx Sells Southern California Acreage For $14.5 Million Net (NYSE:BXC)


BlueLinx Holdings (NYSE:BXC), a distributor of building materials, Friday reported that it sold a 9.25-acre non-operating facility in La Puenta, California, that the company had used to serve the Los Angeles market for $14.5 million in net proceeds. BlueLinx said it has realized $16.4 million in net proceeds from real estate sales over the last three months, and that all net proceeds from real estate sales are used to pay down mortgages and reduce overall debt. In addition, BlueLinx said it has other facilities for sale, expected to generate another $14.5 million of net proceeds before year-end, the company also continues to actively market several company-owned operating facilities for possible sale leaseback transactions as part of its real estate sale optimization efforts.

About 5,972 shares traded hands. BlueLinx Holdings Inc. (NYSE:BXC) has risen 121.79% since February 8, 2016 and is uptrending. It has outperformed by 105.31% the S&P500.

BlueLinx Holdings, Inc. is a distributor of building products in North America. The company has a market cap of $78.48 million. The Firm operates its distribution business through a network of approximately 40 distribution centers. It currently has negative earnings. It serves metropolitan areas in the United States and delivers building products to a range of wholesale and retail customers.

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