This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Auction Of Packing, Cold Storage Facilities Brings East Coast Brokers & Packers Total To $75.8 Million





CHAMPAIGN, Ill., Oct. 28, 2013 /PRNewswire/ -- The last sale in the series of live and online auctions was one of the smallest, at $800,000, but in a way it was the most satisfying to the auction team, the creditors, the receiver and others who have spent the past five months marketing the assets of East Coast Brokers & Packers.

The sale of cold storage and packing facilities in West Virginia and Virginia brought the total to $75.8 million recovered from the sale of the assets.

"We've sold everything except the Red Rose Inn & Suites in Plant City, and we're still negotiating with some prospective buyers for that. But we're pretty much done," said Ken Nofziger, president of Murray Wise Associates, which spearheaded the auctions. The assets included more than 13,000 acres of farmland, packing facilities, labor camps and equipment, primarily located in Florida and Virginia.

The company partnered with Crosby and Associates, Inc., and Woltz & Associates on the real estate auctions and with Weeks Auction Co., Inc., for the sales of the equipment.

"I jut can't imagine that anybody could have done a better job than Murray Wise Associates did," Chapter 11 Trustee Jerry McHale recently told the U.S. Bankruptcy Court, Tampa Division. "I am absolutely amazed at the total proceeds that were received in each and every auction. I will say that every auction exceeded my expectations."

Individuals interested in additional information may visit www.murraywiseassociates.com or call 217-398-6400.

The auctions were authorized by the United States Bankruptcy Court of Florida, Tampa Division, with Gerard A. McHale, Jr., as trustee administering the sales.

Murray Wise Associates LLC, headquartered in Champaign, Ill., with additional offices in Florida and Iowa, is a leading national agricultural real estate marketing and financial advisory firm.

Crosby and Associates, Inc., based in Winter Haven, Fla., with offices in Tavares, Fla., and Hawkinsville, Ga., is a noted provider of agriculture real estate brokerage and management services.

Woltz & Associates, based in Roanoke, Va., is a leading auctioneer of commercial and residential properties and land throughout the United States, with an emphasis on the Mid-Atlantic region.

For more information: Carl Carter, 205-823-3273

SOURCE Murray Wise Associates

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs