In an unprecedented move, FM Stone Commercial and Bartel & Company are holding their first ever industrial lease auction. Held online, this auction will attempt to lease up six industrial properties in Elkhart and Middlebury, Ind. Bidding for the total of 340,140 SF of industrial space will close August 30, 2011.
“With no minimum bids and all properties in a ‘ready to move-in’ condition, this option could be a great opportunity for someone looking for a great deal in commercial real estate,” said Ross Miller, SIOR, with FM Stone Commercial. “We are looking at one-, two- or three-year lease options and spaces from 18,000 SF all the way up to almost 100,000 SF. And all properties have good power, manufacturing zoning and good ceiling heights.”
In Middlebury, two of the former IBS plants are available for lease auction at 51700 Lovejoy Drive; one is 97,180 SF and the other is 97,000 SF. In Elkhart, four buildings are being offered for lease auction: 60,000 SF and 48,960 SF at 2700 Ada Drive; 19,000 SF at 21291 Buckingham Drive; and 18,000 SF at 831 Herman Street.
The industrial manufacturing space involved could easily translate to the employment of 1,000 or more people. The auction will be conducted by Bartel & Company through the company website at http://www.bartelandcompany.com/industrial_lease_auction.htm