Pensacola's Popular Sandshaker Lounge Hits the Online Auction Block ... Again

Pensacola's Popular Sandshaker Lounge Hits the Online Auction Block ... Again

U.S. Marshals Service to Re-auction Sandshaker Lounge, Package Store and Sandwich Shop on the Bid4Assets Web site After Winning Bidder Fails to Perform

SILVER SPRING, Md., Feb. 8 /PRNewswire/ -- Bid4Assets, Inc., a leading online auction site for high-end assets from government, non-profits and private industry, today announced that it will re-auction the famous Sandshaker Lounge located in Pensacola Beach, Florida, forfeited to the U.S. Marshals Service after the buyer from the December auction failed to follow through with the sale. The Sandshaker Lounge, Package Store and Sandwich Shop will be re-auctioned online February 28 -- March 2, 2005 on the Bid4Assets Web site at http://www.bid4assets.com/USMS. Bid4Assets has been conducting asset sales for the U.S. Marshals Service since December 1999 to include residential and commercial real estate, luxury automobiles, aircraft, boats, jewelry, timeshares and financial instruments.

The Sandshaker Lounge, Package Store and Sandwich Shop, located at 731 Pensacola Beach Boulevard, Pensacola Beach, Florida, consists of two small bars and lounge area totaling approximately 1,978 square feet. The total lot size is .54 acres. The business operation was closed on September 16, 2004, due to Hurricane Ivan. The Sandwich Shop was not in operation prior to the hurricane. All accounts, contract rights, accounts receivables and general intangible rights relating to or otherwise existing as a consequence of the operation are included in the auction. Any undamaged unopened liquor will convey with the sale of the property. The beverage license is a class 4 COP license. Bidding for the Sandshaker Lounge, Package Store and Sandwich Shop starts at $295,000. Bidders are required to submit a pre-bid deposit of $70,000 prior to placing a bid.

The U.S. Marshals Service will be conducting a briefing at the U.S. Courthouse on Tuesday, February 15, 2005, at 10:00 a.m. CT, with the inspection immediately following. Prospective bidders wishing to inspect the property must make an appointment and complete the "Waiver, Release & Indemnity Agreement" and a non-disclosure agreement. Please contact inspections@bid4assets.com to schedule an appointment. Appointments must be scheduled before 12:00 p.m. CT on Monday, February 14, 2005.

Specifications, photos and other information are currently available online at http://www.bid4assets.com/USMS. Interested buyers can contact Bid4Assets with any questions by sending an email to service@bid4assets.com. For those individuals who are unable to access the Internet, they can contact Bid4Assets toll-free at 1-877-427-7387 to request an off-line bid form.

"We are thrilled to offer buyers immediate access to a wide variety of unique, high-value property forfeited to the U.S. Marshals Service," said Bid4Assets Vice President of Marketing and Corporate-Wide Communications Jenny Lynch. "Interested buyers can find all of the information they need to make a purchasing decision online."

About Bid4Assets, Inc.

Bid4Assets is the leading online auction marketplace that helps government and private industry maximize returns from the sale of forfeited, surplus and tax-defaulted property. The Company focuses on high-end assets, selling real estate, personal property, financial instruments and bankruptcy claims to a worldwide network of buyers. The Company provides customized sales solutions such as online, traditional, sealed bid and Web cast auctions, fixed price sales, as well as co-branded Web Sites and branded Private Auction Exchanges. Information about Bid4Assets, Inc. is available at the Company's site on the World Wide Web at http://www.bid4assets.com/. The company is located in Silver Spring, Md., phone (301) 650-9193, fax (301) 650-9194.

About U.S. Marshals Service

The Marshals Service (http://www.usdoj.gov/marshals/) administers the Department of the Justice's Asset Forfeiture Program by managing and disposing of properties seized and forfeited by federal law enforcement agencies and U.S. attorneys nationwide. Currently, the Marshals Service manages more than $878 million worth of property. The proceeds from the sale of forfeited assets such as real property, vehicles, businesses, financial instruments, vessels, aircraft and jewelry are deposited into the Asset Forfeiture Fund and are subsequently used to further law enforcement initiatives.

PHOTOS AVAILABLE - Lounge: http://www.bid4assets.com/sandshaker


Source: Bid4Assets, Inc.

CONTACT: Jenny Lynch of Bid4Assets, Inc., Office: +1-301-650-9193, or
jlynch@bid4assets.com

Web site: http://www.bid4assets.com/
http://www.usdoj.gov/marshals


-------
Profile: intent