2009-10-26

October 26, 2009:  United County Ohio Realty & Auction Group is selling at auction a former Howard Johnson hotel located off of I-280 and I-80/I-90.  The property has excellent highway visibility. 

"The sale is free and clear of liens since it is being sold subject to court order," comments Richard Kruse, the court-appointed receiver.  "From time to time we become involved in a project that we believe will sell best through an immediate auction, and this is one of those times."

The property lies on 8.99 +/- acres and has most of the furnishings throughout.  Amenities include a banquet room, indoor pool, restaurant, bar/lounge, and 138 rooms among multiple buildings.

"Earlier this year, the property was an operating concern but it has since shut down," further comments Mr. Kruse.  "An experience hotel operator can get this property re-opened and start making money with it again." 

"The property is an excellent hospitality turnaround deal," notes Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers, the marketing company promoting the auction for the broker.  "Since this is a real sale, the real buyers will seek out this opportunity and bid to buy it."

In addition to the hotel, there is a small former gas station parcel in front of the property that is also conveying.  For access purposes, both the hotel and the gas station property need to be sold together. 

The property is being sold pursuant to a pending court order with the District Court and the US Bankruptcy Court. 

For more information, please visit http://www.natcomauctions.com/ or http://www.ucohioauctions.com/ or call 877-895-7077.  

About National Commercial Auctioneers, LLC

Based in Tulsa, Oklahoma, National Commercial Auctioneers (NCA) is a national real estate auction firm dedicated to the sale of commercial properties for commercial lenders, bankruptcy trustees, private equity funds, and for public and private companies throughout the United States. NCA has the knowledge and expertise to effectively deliver a market-driven auction for every type of commercial property.

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