The old Mega Plaza in Goshen sold Wednesday at auction. The building is about 60,000 square feet and has been home to several commercial stores, a rodeo and most recently an indoor soccer facility.

Wednesday Elijah’s Fire International Church gave the highest bid. Church leaders plan to renovate the building complete with sanctuary for their steadily growing congregation.

“We’ve all had certain things on our mind of what we can do,” said Jim Fernow.” “We’ve all had anticipations. We came here knowing that this property would become ours. We really did. We had the faith for that.”

The building was appraised for more than $450,000, but the church got it for just over $152,000.

The Mega Plaza, which was home to several stores, restaurants, and even an indoor soccer field has seen better days.

On Monday, key auctioneers showed the space off to anyone who was looking for a good deal.

They believe someone could turn this space into something special!

“What they’d really like to see is someone come in here, take care of the building, fix it up a little bit, and hopefully make it a prosperous shopping center,” said Seth Seaton.

The space is set to be auctioned off on April 11.

Source:
http://www.indystar.com
by: Bruce C. Smith
bruce.smith@indystar.com

Bidders will compete for about 13-acres at 9201 West Washington Street near Raceway Road, which has long been the home of Shrum’s Manufactured Housing center.

The operation has a long history of complaints about trash, weeds and broken down trailers visible along the busy street. At least a dozen citations or orders have been issued in the past decade by city zoning and code enforcement officials.

Tens of thousands of motorists pass the property each day on Washington, also known as U.S. 40 or the historic National Road, which crosses the Marion-Hendricks county line.

“It is a gateway area into Indianapolis and it is a mess,” said Amy Worgan, a Wayne Township neighbor and former city planner.

“With the construction of the Ronald Reagan Parkway nearby in Plainfield, that area of U.S. 40 in Hendricks County looks so fresh. And Hendricks has big plans for (the development) they hope to do there. But cross the county line and this is the first thing you see in Indianapolis.”

The property has 1,100 feet of frontage on the major highway and it is next to the northwest corner of Indianapolis International Airport.

Airport officials are looking at the auction but declined to say if they will be among the bidders.

“We expect the property will be sold because it is an absolute auction” meaning there is no minimum, said Jeff Doner, a broker with Key Auctioneers.

The Shrum operation is still in business and could continue on the site or be asked to move, depending on the investment plans of a buyer, Doner said.

The 11 a.m. auction at the property is not a foreclosure, he said, but it is “a bank motivated sale.”

Tax bills go to EFI LLC in Spokane, WA. City code citations in the past two years named Centrum Financial Services as the owner. And a 2011 report on environmental hazards and history of the site was commissioned by Washington Trust Bank of Spokane.

The environmental report shows the site was an undocumented landfill in the 1960s. By the 1980s, a small modular office building was installed and became offices for Shrum.

The 17-page environmental report by Terracon Consultants, Chicago, mentions no major hazards on the grass, mud and asphalt surface. It recommends boring into the soil to find out what was buried in the landfill and its impact on the environment.

Real estate experts said the environmental issues don’t mean that such a unique gateway location will be cheap.

Based on recent auction prices of other far-West Washington Street properties with commercial zoning, bidding is likely to reach at least several hundred thousand dollars.

Tax records show the property valued at more than $320,000 and appraisals have put it closer to $575,000. Annual property taxes are $31,000.

The property comes with a giant highway-sized billboard that yields more than $14,000 in rental income this year. If the rental rate increases by 3 percent a year, it would reach more than $27,700 by 2035, according to the auctioneer’s estimates.

Source:
http://www.indystar.com
by: Bruce C. Smith
bruce.smith@indystar.com

They were symbolic of a company lost in a financial mess. At the same time, the yellow tags attached to the molds stacked beside the signs indicated legacy of the brands would continue under another manufacturer.

More than 40 years after Carriage Inc. started building and selling fifth wheels, the company came to an end Tuesday amid the staccato cries of auctioneers. A large crowd ringed the mobile auction stand as it moved from one lot of raw materials to the next while individuals and small groups in other buildings appeared to have staked out the items they wanted and were just waiting for the auctioneers to arrive.

All the remains of the luxury fifth wheel maker, excluding the real estate, were scheduled to be auctioned Tuesday. Myron Bowling Auctioneers Inc. from Ohio had organized and was overseeing the one-day event.

A mix of manufacturers, vendors and dealers were there, along with retail consumers looking to get a finished Carriage unit at a bargain price. At 1:15 p.m., 785 potential bidders had registered at the auction office, 250 had signed up during the inspection Monday and another 220 were bidding and buying online.

RETURNING ONE MORE TIME

Mark Musselman of Ligonier had made counter tops at Carriage for 34 years and never thought of leaving until the manufacturer closed. When the company stopped production in October 2011, the employees were assured they would be called back in two weeks. Musselman kept in regular contact with his plant manager until the day he was told the financial issues were too great and Carriage was done.

He came to the auction, in part, to see what was available and also to take one last look around.

“I would have come back,” said Musselman, who has since found a job in Syracuse. “It was such a great place to work.”

As the bells from a nearby church echoed through the cold air, Musselman walked up a small hill and into the main production facility, dubbed Building One. Here, he explained, a bare chassis started at the beginning of the line and was rolled through the entire length of the building, parts and components were added until a finished recreational vehicle arrived at the end.

“They made sure things were right,” Musselman said. “They didn’t throw things together and make a junk unit.”

Tuesday, towables in various stages of construction sat along the production track. An empty chassis gave way to a unit with the floor installed, some of the outer walls constructed and the spot of the slide out left open. Next to that were units with floors, cabinets, interior walls, fiberglass exterior walls and, as one auction attendee explained as he pointed to the storage compartment in the rear of the unit, a mother-in-law suite.

All around were neat piles of supplies used to make RVs. Spools of electrical wiring, stacks of plywood, rows of axles and tires, microwave ovens, refrigerators, stoves and shower stalls were among the array of items tagged and waiting to be sold to the highest bidder.

Scott Tuttle, founder and president of Livin’ Lite Recreational Vehicles in Wakarusa, had ended up purchasing six boxes of screw guns and was looking at some racks, all of which he said he needs for his company’s booming production.

He was stunned by the prices the lots were garnering. Usually, he said, things could be picked up at an auction for 60 cents on the dollar but within the last 18 months a trend has emerged in many auctions of articles going for 80 to 90 cents on the dollar.

At the Carriage event, he noted a radial arm saw, that normally retails for $275, went for $375. And a welding machine that costs about $3,300 new was sold for $2,800.

“It’s crazy,” he said.

THOR BUYS NAME

By noon the buzz of the auction was the sale of the intellectual property, including the Carriage name, the brand names, engineering drawings and molded dies. A separate ring was opened at 11 a.m. in the plain white building specifically to auction off the intangible assets.

The highest bidder was Redwood RV, a division of Thor Industries, buying the lot for $100,000.

“We plan to bring the name back,” said Redwood president Don Emahiser. “I’m not comfortable saying where or when but we bought it not just to sit on the shelf.”

That Redwood purchased the legacy of Carriage is not surprising. The Thor fifth wheel company was started by Don Emahiser, former president of Carriage, and has several former Carriage employees from senior executives all the way down to production workers.

So entwined are the two companies that Emahiser described Redwood as having Carriage in its DNA.

DIFFERENT PLANS FOR THE LAND

By order of Elkhart Superior Court 1, the real estate was placed into receivership in December 2011. The assets that went on the auction block Tuesday were not part of the receivership estate.

Key Auctioneers Inc., based in Indianapolis, has been designated the receiver and is handling the sale of the property that includes 17 parcels of land totaling nearly 60 acres and 19 buildings with a combined space measuring about 415,000 square feet.

The real estate should be listed in a couple of weeks, said Tim Boeglin, senior vice president at Key Auctioneers. He is optimistic the property will sell and could likely be purchased by a single buyer.

Either the land and buildings will be sold in a private transaction between the buyer and Key Auctioneers or, Boeglin said, at some point the property could be auctioned.

Source:
http://www.etruth.com/article/20120222/BUSINESS/702229969
by: Marilyn Odendahl
modendahl@etruth.com

January 2012

Indy Airport Auction this Saturday will air on Travel Channel Everyday, millions of people travel. And hundreds of thousands of bags are lost in transit around the world. When this property goes unclaimed, it’s put up for public auction to the highest bidder. Outrageous fortune is just a suitcase away…

Bid on unopened mystery luggage, laptops, ipads, smart phones, jewelry, and rare collectables. These are just a few of the items available for purchase this Saturday at the Indianapolis International Airport. The Travel Channel series
“Baggage Battles” will cover the auction conducted by
KEY Auctioneers and the Indianapolis Airport Authority.

The auction for the left behind treasures will be held this Saturday, January 28, at 1:00 P.M. at the Republic Hangar, 2745 Hoffman Road, Indianapolis. There will be a sale preview before the auction from 11:30 A.M. to 1:00 P.M.
“Baggage Battles” is a fun, fast-paced half-hour documentary television series about the highly competitive and unknown world of lost property auctions. The new Travel Channel show follows real expert buyers as they travel the globe in search of treasures buried at the bottom of luggage left behind in airports, packages lost in the mail, items seized by customs,
unclaimed safety deposit boxes, and many other hidden gems lost in transit. Every city has an auction—and every auction has its own extraordinary story.

KEY Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides business owners, secured creditors, and trustees a full range of services to protect, market and auction business and real estate assets.

Visit www.keyauctioneers.com and click the “upcoming auctions” link for more information, including a complete listing of all items and lots to be auctioned on January 28th.

For more information, contact Tim Boeglin at 812-327-5352.

With over $115 billion sold in commercial real estate in 2010, business owners, banks, and consumers are increasingly turning to auctioneers to sell their real estate. Real estate is the fastest growing segment of the quarter-trillion dollar auction industry and auctioneers are expanding their education and business operations to provide consumers with effective and efficient sales solutions.

Ted has been a licensed auctioneer and certified appraiser since 2009,
and resides in Bloomington, Indiana.

# # # #

Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides business owners, secured creditors, and trustees a full range of services to protect, market, and auction business and real estate assets.

For more information, contact Tim Boeglin at 812-327-5352.

Historic Softball Complex Featured in “Eight Men Out” to be Auctioned

INDIANAPOLIS, IN – December 2, 2011. Indianapolis’ oldest softball complex will be auctioned on Thursday. Built in 1946, the Metro Softball Complex has been home to generations of softball and baseball leagues. Scenes from Eight Men Out, the 1988 John Sayles film about the infamous Black Sox scandal, were filmed there.

According to Mark Thompson, one of the partners in the business, leagues have been full and the business has been profitable for years, but the partners have differing visions for the complex.
Completely renovated, the Sherman Drive complex includes two lighted diamonds, clubhouse, dugouts, concessions, liquor license, billboard lease, and equipment.

Indianapolis-based Key Auctioneers will conduct the auction at the complex on Thursday, December 8 at 10:00 am. The auction is open to the general public. Additional information is available at keyauctioneers.com.

# # #

About Key Auctioneers

Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides business owners, secured creditors, and trustees a full range of services to protect, market and auction business and real estate assets.

For more information, contact Tim Boeglin at 812-327-5352.

INDIANAPOLIS, IN – August 15, 2011. After 34 years in business, Carmel’s Glass Chimney Restaurant will be auctioned on Wednesday.

Austrian-born chef Dieter Puska founded the Glass Chimney in 1976 and built it into a Carmel fine dining institution. He sold the business in 2004 to his chef apprentice Adam Waldrip, and retired from the business in 2008. The restaurant was renowned for its elegant atmosphere and European cuisine.

Indianapolis-based Key Auctioneers will auction the real estate and furnishings for Glass Chimney and it casual dining neighbor, Deeter’s. The auction will be conducted at the Glass Chimney at 12901 Old Meridian St. on Wednesday August 17 at 10:00. Key will host a preview on Tuesday from 10-2 for people interested in bidding at the auction. The public is welcome to attend both events.
Additional information is available at keyauctioneers.com

# # #

About Key Auctioneers

Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides businesses owners, secured creditors, and trustees a full range of services to protect, market and auction business and real estate assets.

For more information, contact Tim Boeglin at 812-327-5352.

INDIANAPOLIS, IN -  May 9, 2011. A year after pleading guilty to securities fraud, Geist resident Dorothy Geisler-Tragardh’s assets will be sold at a public auction. Proceeds from the auction will go to victims of the fraud.

In August, 2010, Geisler-Tragardh pleaded guilty to defrauding investors of $2.5 million. A former executive in Praxis Resource Partners, Geisler-Tragardh allegedly sold investors Class A shares of stock valued at 36 cents for $56 per share, misrepresenting them as Class B shares. At the time Geisler-Tragardh lived just one block from another notorious Geist resident accused of securities fraud, Marcus Shrenker, the indicted money manager who faked his death in a 2009 Florida plane crash.

On Friday evening, May 13 at 6 PM, Indianapolis-based Key Auctioneers will auction the assets of Geisler-Tragardh and others at the Hamilton County Fairgrounds in Noblesville. The auction will include a signed lithograph by Salvador Dali appraised at over $30,000, a signed, limited edition Peter Max valued at $7200, and more than 250 lots of jewelry, including several Cartier pieces, a 2-carat diamond solitaire, and a pair of 2-carat dangling tear drop diamond earrings valued at over $10,000. Also up for auction will be numerous minks and sables, Waterford crystal, a Lexus and other luxury vehicles, a 19-ft Mariah boat, fitness equipment and other household items. The sale will continue Saturday at 9AM with eight truckloads of leather and other high-end overstock furniture, fitness equipment and home décor items. Online bidding will be available for the Friday evening auction.

The public is invited to preview the merchandise in person Friday, May 13 from noon to 6 PM at the Hamilton County Fairgrounds, or online at KeyAuctioneers.com.

# # #

About Key Auctioneers
Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides businesses owners and secured creditors a full range of services to protect, market and auction business and real estate assets.

For more information about Key Auctioneers, contact Tim Boeglin at tboeglin@KeyAuctioneers.comor (812) 327-5352.