By: Alex Nielsen—
New York, NY—Mission Capital Advisors, a leading national real estate capital markets solutions firm, has announced that its Asset Sales Group is marketing two well known Muncie properties in an online auction to be held December 3-5.
Both properties will be auctioned individually on the RealINSIGHT Marketplace platform, with the bidding window opening on December 3rd and closing on December 5th.
The properties were previously occupied by the Marsh grocery chain – or its LoBill Foods brand – which filed for bankruptcy protection in 2017 and was subsequently liquidated. Both buildings are fully vacant.
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 both properties, and interest is anticipated from both local and national buyers seeking opportunistic investments.
The properties include the two named below with links to each online auction page.
Built in 1980, 3910 West Bethel Pike in Muncie is a 50,042-square-foot, single-tenant property in a prime area that features a range of shopping and dining options. With convenient local access, the property is ideally suited for retail uses, and housed a short-term Halloween-focused retailer this fall. Located approximately two miles from Ball State University, in an area marked by significant tech job growth, the property should generate significant leasing interest from national and local tenants looking to expand in one of Muncie’s strongest retail submarkets.
1920 South Hoyt Avenue in Muncie is a 60,072-square-foot, two-building retail/commercial property. The two properties include a single-story, 45,000-square-foot building, constructed in 1978, and a two-story commercial building, which was built in 2017 and measures approximately 15,000 square feet. The layout of the property affords an investor flexibility for either single-tenant or multi-tenant usage.
Here’s an Inside Indiana Business article on what Fort Wayne is doing with one of their former Marsh buildings.
About RealINSIGHT Marketplace
RealINSIGHT Marketplace is one of the nation’s leading online due diligence and auction bid platforms. RealINSIGHT provides local, regional, national, and international investors the opportunity to review and bid for loan and REO assets on an individual basis. For more information, visit marketplace.realinsight.com.
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York, Florida, Texas, California and Alabama. For more information, visit www.missioncap.com.