Foreclosure Auctions Scheduled for Old Virginia Brick Properties in Madison Heights, Salem, Roanoke, and Elliston Areas
Richmond-based SVN/Motleys is coordinating the onsite auctions of the four well-known Old Virginia Brick headquarters, manufacturing, and brick mining properties on June 23rd.
Richmond, Virginia (June 03, 2015)—Richmond-based SVN/Motleys—a founding member of SVN Auction Services, a national provider of date-specific sales and special asset solutions—is coordinating the foreclosure auctions for the well-known Old Virginia Brick Company properties in the Madison Heights, Salem, Roanoke, and Elliston areas. Consisting of more than 185 acres, the two manufacturing and two brick mining facilities are scheduled to be auctioned on June 23rd. Interested parties may bid on individual properties throughout the auction day. Parties that are interested in making entirety offers will need to directly contact SVN/Motleys.
The onsite auctions will be staggered throughout the day starting at 10 am at the Old Virginia Brick manufacturing facility at 450 Mitchell Bell Road in Madison Heights. For more information on the properties and auction times and locations, visit svnmotleys.com.
“We anticipate very active auctions as the 125-year-old Old Virginia Brick Company is such a well-known name in the region and its facilities have become familiar landmarks within their communities,” said Tim Dudley, CAI, AARE, Senior Advisor with SVN/Motleys. “Due to the diversity of the assets, locations and turn-key readiness, this is a highly desirable portfolio of properties,” explained Dudley who is leading the auction coordination effort.
Interested buyers also will have the opportunity to purchase the equipment inside the facilities in an online-only auction conducted by SVN/Motleys, making the properties even more desirable, Dudley added.
The property portfolio consists of multiple buildings totaling 257,000 square-feet. In total, the properties are comprised of a manufacturing facility in Madison Heights, corporate headquarters and manufacturing facility in Salem, and two separate land parcels used as the company’s brick mining locations in Roanoke and Elliston.
The Old Virginia Brick properties will be offered at four auction sites. Site 1 is the 96,900 square-feet manufacturing facility in Madison Heights that sits on more than 30 acres and features multiple buildings. Site 2 is the 161,000 square-foot corporate headquarters and manufacturing facility in Salem located on more than 16 acres and also featuring several buildings. Site 3 is the Roanoke mine property consisting of nearly 75 acres and Site 4 is the Elliston mine property consisting of 65 acres.
“The manufacturing facilities have the potential to be fully functional as Old Virginia Brick shut down operations in late April,” said SVN/Motleys’ Seth Marinoff, who is working closely with Dudley on the auction coordination. “The assets feature unique qualities that are sure to attract a broad range of interested bidders.”
Live auctions will start on June 23 at 10 am at the Madison Heights manufacturing facility. The SVN/Motleys team will then proceed to the headquarters site in Salem for a 1 pm auction. From there, the team will move on to the Roanoke mine property for a 1:30 pm auction and then on to the Montgomery Courthouse at 4 pm for the auction of the Montgomery mine property.
About SVN Auction Services
SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-properties, receiverships and bankruptcies. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International’s more than 800 commercial real estate advisors throughout the nation. This relationship provides outstanding opportunities for SVN Auction Services to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers. For more information, visit SVN Auction Services.
Tim Dudley, CAI, AARE
Zeszutko Corp.-PR on behalf of SVN Auction Services