Camp Hill, Penn., August 1, 2011– Members 1st Federal Credit Union in Mechanicsburg authorizes an auction of the real estate and secured note for the Coliseum Indoor Entertainment Megaplex in Camp Hill. Maas Companies Inc, an auction company specializing in the selling of real estate, industrial plants, equipment and special assets, will conduct the sale. The auction will be held at the Radisson Hotel Harrisburg, 1150 Camp Hill Bypass, Camp Hill on Friday, August 26 at 11 AM.
The Coliseum is an operating business and is not being sold; persons are buying the real estate currently housing the Coliseum and the promissory note secured by the equipment and liquor license. The $10,000,000 state of the art indoor entertainment complex is four years old. The auction property includes the Real Estate that consists of two lots containing approximately 3.032 Acres with a 35,000 Sq. Ft. Entertainment Complex; and a Promissory Note with a principal balance of approximately $656,256.20. The Real Estate and Promissory Note are available as an Entirety Purchase up to two weeks prior to the auction. At the auction, the auction property will be offered in two individual lots and then as a package; the auction property will sell whichever way brings the greatest money.
Tyler Maas, Director of Sales & Marketing for Maas Companies, states, “This auction offers a unique opportunity for a new owner. The property has an active tenant with an operating business and if the buyer also purchases the Promissory Note, he or she has a strong asset base for a high end entertainment complex.” The seller chose to market the property via auction to actively recruit a new owner as they are not interested in a long term landlord position.
Potential buyers are encouraged to inspect the property during the below noted times or by private appointment.
Wednesday, August 3 12 PM – 5 PM
Thursday, August 4 12 PM – 5 PM
Thursday, August 18 12 PM – 5 PM
Thursday, August 25 12 PM – 5 PM
Details of the sale are available at the auction website, maascompanies.com or by contacting the auction company directly at 507-285-1444.