Marsh Supermarkets to Sell Surplus Properties at Auction Many Offered Absolute

Higgenbotham Auctioneers International Ltd., Inc. ("HAI"), announced today that food retailer Marsh Supermarkets has retained HAI to offer at auction 27 surplus properties throughout Indiana & Ohio. These valuable properties will be offered at auction at 11AM, November 15th in the Holiday Inn Select Grand Ballroom located adjacent to the Indianapolis Airport at 2501 S. High School Road Indianapolis, Indiana. At least 7 properties are to be sold ABSOLUTE to the last and highest bidder. The auction is a cooperative effort between HAI and RCS Real Estate Advisors ("RCS") of New York City, New York and NAI Global ("NAI") of Princeton, New Jersey.

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Although these properties no longer fit into the future plans of Marsh, they are located in many prime markets around the region with some of the locations being no more than a few years old and fully equipped

Lakeland, FL. (PRWEB) September 28, 2007

Higgenbotham Auctioneers International Ltd., Inc. ("HAI"), announced today that food retailer Marsh Supermarkets has retained HAI to offer at auction 27 surplus properties throughout Indiana & Ohio. These valuable properties will be offered at auction at 11AM, November 15th in the Holiday Inn Select Grand Ballroom located adjacent to the Indianapolis Airport at 2501 S. High School Road Indianapolis, Indiana. At least 7 properties are to be sold absolute to the last and highest bidder.

The auction is a cooperative effort between HAI and RCS Real Estate Advisors ("RCS") of New York City, New York and NAI Global ("NAI") of Princeton, New Jersey.

The auction inventory consists of 15 retail out-parcels/development tracts and 12 retail buildings. The properties are former supermarkets, retails centers and development tracts.

The properties include:

  • 28,671± SF former supermarket located at 936 East Washington Street in Winchester, Indiana
  • 35,769± SF former supermarket and a 4,000± SF retail building located at 4005 Wheeling Avenue in Muncie, Indiana
  • 39,451± SF former supermarket located at 3919 Madison Avenue in Indianapolis, Indiana
  • Three separate 1 acre retail development tracts and a 1/2 acre retail development tract located on Maplecrest Road in Fort Wayne, Indiana
  • 5 retail development tracts located at 4900 East Jackson Street in Muncie, Indiana
  • 6.59± acre retail development tract located at the southwest corner of 38th and Columbus Avenue in Anderson, Indiana
  • 32,176± SF former supermarket with an attached 20,000± SF retail building located at 1021 and 1033 Indianapolis Road in Greencastle, Indiana
  • 21,137± SF former supermarket located at 107 West Pickwick Drive in Syracuse, Indiana
  • 8,586± SF fully equipped freestanding former restaurant located at 14575 Mundy Drive in Noblesville, Indiana
  • 1.32± acre retail development tract located at 14450 Mundy Drive in Noblesville, Indiana
  • 46,212± SF former supermarket located at 2424 South Walnut Street in Bloomington, Indiana
  • 36,810± SF former supermarket located at 395 Martin Street in Greenville, Ohio
  • 2,100± SF commercial building located at 900 East Jefferson Street in Tipton, Indiana
  • 11,920± SF commercial building located at 5136 North Franklin Avenue in Lawrence, Indiana
  • 14,800± SF commercial building located at 1240 North State Street in Greenfield, Indiana
  • 8,800± SF commercial building located at 17 North Lynhurst Drive in Indianapolis, Indiana
  • 1/2± acre retail outparcel located at 10679 North Michigan Road in Zionsville, Indiana
  • 1.34± acre retail outparcel located along East 300 North (Hartman Road) in Anderson, Indiana
  • 1.1± acre retail outparcel located at 843 East Main Street in Brownsburg, Indiana
  • 2.37± acre retail development tract located at 702 West South Street in Lebanon, Indiana

"Although these properties no longer fit into the future plans of Marsh, they are located in many prime markets around the region with some of the locations being no more than a few years old and fully equipped" stated John Haney, General Manager of HAI.

Marsh is expected to use the proceeds of the auction to continue its efforts in renovating and upgrading its operating stores.

Assisting with the coordination of the auction is RCS Real Estate Advisors and NAI Global. "We're certainly pleased to be working in cooperation with some of the most notable and effective real estate firms in the United States. With RCS Real Estate Advisors' detailed knowledge of Marsh's real estate and NAI Global's extensive network of real estate professionals throughout Indiana and the world, potential bidders can be assured that they are receiving detailed, accurate information on the properties and will have numerous opportunities to inspect and preview the buildings" stated Haney.

Parties interested in bidding on the Marsh Supermarket properties should contact HAI immediately to receive property, auction and due diligence information, including taxes, zoning, title exceptions, etc. all of which will be made available via mail or by download from HAI's website, http://www.higgenbotham.com.

About Higgenbotham Auctioneers International Ltd., Inc.
Founded in 1959, Higgenbotham Auctioneers International ("HAI") is headquartered in Lakeland, Florida and specializes in the sale of corporate real estate throughout the United States and the world by utilizing the auction method of marketing. HAI is an alliance partner of NAI Global and enjoys continuing relationships with Fortune 500 clients such as Alcoa, International Paper, Wal-Mart Realty, and Sinclair Oil, as well as many other publicly traded and closely held companies.

About Marsh Supermarkets, Inc.:
Marsh Supermarkets, Inc. ("Marsh") was founded in 1931 with one store in Muncie, Indiana. In 1953,
Marsh went public with 16 stores. Today, Marsh is headquartered in Indianapolis, Indiana and operates 79 Marsh Supermarkets, 19 LoBill Foods, 6 O'Malia's Food Markets, Crystal Food Services, Primo Banquet Catering and Floral Fashions. Marsh employs nearly 14,000 and serves two million customers each week.

About NAI Global:
NAI is the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 5,000 professionals and 350 offices in 45 countries throughout the world.

About RCS Real Estate Advisors:
RCS Real Estate Advisors (formerly Retail Consulting Services) provides innovative solutions that unlock the potential of retail real estate assets for clients across the United States. Founded in 1981, the firm operates through a unique mix of three practice areas - Growth and Development, Restructuring and Portfolio Optimization, and Investment Advisory and Participation - offering services that include expansions, rent renegotiations, dispositions and equity investments. For more information about the firm and its track record of working as a partner to deliver results for top-name retailers, please visit http://www.rcsrealestate.com.

For more information about the Marsh Supermarket properties or other Higgenbotham auctions, please contact John Haney at Higgenbotham Auctioneers (800) 257-4161 or visit their website at http://www.Higgenbotham.com

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