Former Marsh Stores Head to Auction
(photo courtesy of Mission Capital Advisors)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFive former Marsh stores throughout Indiana will soon be on the auction block. New York-based Mission Capital Advisors LLC says bidding will begin next week on the properties, all of which are currently vacant after being liquidated due to the grocery chain filing for bankruptcy.
Each of the properties will be auctioned individually with bidding beginning on December 3 and closing on December 5. Mission Capital is marketing the auctions on behalf of the seller.
"For value-add investors, these properties offer an excellent opportunity to acquire assets with significant upside at a very low basis," said Kyle Kaminski with Mission Capital. "Several of the retail centers are located in strong commercial and residential districts, and strategic investors will be able to capitalize on their significant potential. The seller is highly motivated to find buyers for all five properties, and we anticipate interest from both local and national buyers seeking opportunistic investments."
The properties, ranging from 14,000 to 80,000 square feet, include:
- 10901 East Washington Street, Indianapolis
- 3825 State Road 26 East, Lafayette
- 3910 West Bethel Pike, Muncie
- 1301 South East Street, Richmond
- 1920 South Hoyt Avenue, Muncie
Marsh Supermarkets filed for Chapter 11 bankruptcy protection in May 2017. Nearly two-thirds of the chain’s stores were acquired by Ohio-based Kroger Co. (NYSE: KR) subsidiary Topvalco Inc., and Generative Growth II LLC.