MUNCIE, Ind. – Vacant buildings that once held grocery stores could soon come under new ownership. Five former Marsh buildings are part of an auction in early December, with each property getting auctioned separately.
The properties are headed to auction by Mission Capital Advisors, a national real estate capital markets solution firm.
The five properties in Indiana are:
- 10901 East Washington Street in Indianapolis
- 3825 SR 26 East in Lafayette
- 3910 West Bethel Pike in Muncie
- 1301 South East Street in Richmond
- 1920 South Hoyt Avenue in Muncie
Muncie isn’t only the only community with two properties on the auction block, but also the home where Marsh Supermarkets.
“Marsh was obviously synonymous with Muncie,” said executive director of the Muncie Redevelopment Commission, Todd Donati.
Donati said the Hoyt Avenue location closed in the summer of 2017, when Marsh filed for bankruptcy and shut down its stores across the state.
The building along Bethel Pike has not held a grocery store for several years and was most recently a Dunham’s Sporting Goods, according to Donati.
The loss of the two stores left a big impact on the community.
“Not only did we lose a lot of grocery stores, we lost a lot of jobs, too,” Donati said.
The bidding window for the properties in the auction opens on Monday, December 3. It closes two days later on December 5.
Donati said the city may end up being the buyer in the end, but he was confident the two properties in Muncie would have a buyer.
“They won’t be grocery stores,” said Donati. “They’ll be some kind of retailers. They may split up into different retail units. If someone buys them right, they can remodel and can maybe have three, four or five small retail outlets in these stores.”