ATLANTA, Jan. 06, 2017 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE:BXC), announced today that it has recently completed the sale of its non-operating facility in Wausau, Wisconsin, generating approximately $1.1 million in net proceeds. With this sale, BlueLinx has realized approximately $34.1 million in net proceeds from certain real estate sales since announcing its deleveraging plan last year.

BlueLinx has other non-operating facilities under contract with various purchasers and continues to actively market several company-owned operating facilities for possible sale leaseback transactions. The Company expects that through the outright sale of the properties in which it no longer operates and the sale leaseback transactions in certain facilities that will remain, that it will cumulatively pay off more than $60 million of its mortgage balance in the second quarter of 2017 since extending earlier in 2016.

As discussed in the March 2016 earnings call, the desktop valuation of BlueLinx’s real estate properties as of fiscal 2015 year-end was $332 – $352 million. The collective value of the eight non-operating facilities sold during 2016 has been consistent with the prior year desktop valuations.

“We are pleased with the property sales we completed in 2016. There is still more value in our facilities and we are encouraged with the additional real estate transactions we have planned,” said Susan O’Farrell, Senior Vice President and Chief Financial Officer.

About BlueLinx Holdings Inc.

BlueLinx Holdings Inc., operating through its wholly owned subsidiary BlueLinx Corporation, is a leading distributor of building and industrial products in the United States. The Company is headquartered in Atlanta, Georgia and operates its distribution business through its national network of distribution centers. BlueLinx is traded on the New York Stock Exchange under the symbol BXC. Additional information about BlueLinx can be found on its website at www.BlueLinxCo.com.