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Metroplex fails to sell at auction
By jeanne starmack
liberty
The MetroPlex, the hotel and banquet center just off Belmont Avenue, did not sell at an online auction Wednesday.
The complex, which now includes a Rodeway Inn, was up for auction through CBRE Inc., a commercial real-estate services and investment firm.
It was an undisclosed reserve auction, said Doug Johnson, director of capital marketing for CBRE. That means that even though there is a minimum bid, in this case $750,000, the highest bid must meet the reserve amount. It did not, Johnson said Thursday.
Johnson said he could not disclose how many bidders there were or the amounts of the bids.
The property is owned by a company named Aswin Ganapathy and managed by Indira Sammy.
Johnson said the seller has other options.
“They could sell the property at a lesser amount than the reserve price, not sell the property or entertain other offers,” he said.
He said the property will not go back on auction, adding that there was a lot of interest in it.
He said the seller may know by early next week what she will do.
The property has been a hotel and banquet center for decades. There was a Holiday Inn there until about 20 years ago.
It now houses Goodies Bar and Carryout, and Goodies Kitchen.
Pat Ungaro, Liberty Township administrator, said he’s glad there are still options open.
“I feel like it’s time for a new owner to put some energy and money into it,” he said.
The present owner had a dispute with Girard over water bills last year and owed back taxes of $41,000 to Trumbull County, according to Vindicator files. Those taxes are now paid.