NILES, Ohio – An industrial site on Ann Avenue and Olive Street that was once the location of Melmore Associates Inc. is scheduled for the auction block.
An absolute auction – meaning there is no reserve and the assets would be sold to the highest bidder – is scheduled to close at 3 p.m. March 19, according to a press release issued from eXp Commercial.
Melmore Associates was a distributor of material handling equipment and recently closed its doors after 62 years in business.
The site encompasses three assets on 19 acres zoned to accommodate heavy industrial manufacturing, the press release states. Prospective buyers are able to bid on each asset separately or all three. These assets include:
- 17.87-acre industrial outdoor storage yard featuring approximately 120,000 square feet of covered steel-frame canopy storage, truck scale infrastructure, substantial heavy power and 992 feet of frontage along Olive Street.
- 23,448-square-foot heavy manufacturing warehouse with substantial power capacity supporting fabrication and production uses.
- 10,562-square-foot office/warehouse building with dock and drive-in, supporting administrative and operational functions.
“This portfolio reflects the kind of long-term industrial ownership that helped shape the Mahoning Valley’s manufacturing economy,” said Michelle Angeny, commercial real estate adviser with eXp Commercial. “We’re grateful for the collaboration and data support from the Lake to River team and the city of Niles as we bring this opportunity to market.”
The auction will be conducted by Transition Auction Group via a secure online bidding platform. Due diligence is available for qualified bidders. A pre-auction bidder tour and inspection dates are available by appointment.
Pictured at top: A warehouse at the Ann Avenue site.