Indiana Sand and Gravel Quarry for Bankruptcy Auction

. March 19, 2010

National Commercial Auctioneers (www.natcomauctions.com( announces the auction of a land lease covering 360 acres with a sand and gravel quarry that formerly operated as Rockmakers, Inc, located just south of Martinsville, Ind., at the intersection of highways SR 37 and SR 39. The lease has approximately 93 more years remaining and the quarry has an estimated 30 million tons of sand and gravel remaining for excavation.

“This is nearly a turn-key operation for an experienced quarry operator,” says Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers. “With such a long term lease and long term mining potential, this lease can be a huge money-maker for the next owner.”

Located in the Martinsville Hills and Norman Upland physiographic provinces, the property has an estimated 30 million tons of recoverable sand and gravel. This estimate is classified as measured. The area affected by prior extraction and processing is an estimated 34 acres and contains two modest size pits, a screening plant, stockpile areas, a combined office and scale house, and an equipment storage and maintenance area. The property lies within the Ellis Farms Property. In addition to the rights under the lease, the purchaser will also receive title to all in-place equipment including the Commander 1400 Deck Rinser, Finesmaster 2000, portable conveyors, several trucks and other equipment.

“This lease and equipment is being sold subject to a $100,000 minimum bid,” states Michael A. Fine, CCIM, CAI, AARE, Senior Vice President and Auctioneer, National Commercial Auctioneers. “This is a bargain price for such a significant quarry operation. Every sand and gravel operator should pursue this opportunity.”

The auction will be held at the Holiday Inn Express, 2233 Burton Lane, Martinsville, IN on Friday, April 23rd @ 11am. The quarry will be available for inspection on Thursday, April 8, and Wednesday, April 14, at 11am. To bid at the auction, each bidder must be pre-qualified pursuant to the bidding procedures pending approval by the US Bankruptcy Court.

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.

Category: Property

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