Final East Coast Brokers and Packers auction scheduled

10/10/2013 11:10:00 AM
Doug Ohlemeier

The remaining assets of East Coast Brokers and Packers Inc. are scheduled to go up for bidding during an Oct. 25 auction.

East Coast Brokers & Packers The auction is part of the bankruptcy proceedings of the Madonia family which use to own East Coast.

A cold storage facility in Ranson, W.Va., and three packing and cold storage operations in Winchester, Va., that operated under the Zero Pak name, are scheduled to be auctioned in Winchester.

The auction service said it expects one buyer to purchase all three Zero Pack facilities, which includes more than 289,000 square feet of storage capacity, and separately auction the Ranson facility, according to a news release.

The Winchester operation can store 4,000 pallets while the Ranson building features 277,000 square feet of capacity and can hold 500,000 bushels of apples, according to the release.

“We’re finally writing the final chapter in a process that began in the spring,” Ken Nofziger, president of Murray Wise Associates, an agricultural real estate marketing and financial advisory firm, said in the release.

So far, the series of auctions in Florida and Virginia has yield around $75 million.



Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

Join the conversation - sign up for FREE today!
FeedWind
Feedback Form
Leads to Insight