The Herald Bulletin

Morning Update

Local Business

March 5, 2013

Hotel could hang ‘no vacancy’ sign for first time in months

Bankruptcy court orders auction of closed Garden Hotel

ANDERSON, Ind. — There was a time when the Anderson Holiday Inn would have to hang the “no vacancy” sign during Indianapolis 500 week.

“That location was one of the top hotels in the area,” said Tom Bannon, executive director of the Anderson-Madison County Visitors and Convention Bureau.

But nowadays, the hotel, which later operated as a Garden Hotel, doesn’t get too many visitors. No one’s stayed there in months.

In October, former owner, M3 Hotels, filed for bankruptcy. The building sat vacant before M3 motioned to open the property, 5920 S. Scatterfield Road, for bidding on the order of a U.S. bankruptcy court in February.

Sealed bids will be accepted through 4 p.m. Eastern Daylight Time on March 14 on the 157-room hotel.

According to a listing with auction manager CBRE Auction services, the hotel includes 5.1 acres and is “perfect for redevelopment or an alternative use.”

The property sits just off Interstate 69 exit 226, 20 miles from Muncie and 23 miles from Indianapolis.

“The location is absolutely great,” said Anderson economic development head Greg Winkler. “The condition of the property is an absolute question mark, I haven’t seen inside it lately.”

The property is listed as being sold on an “as-is, where-is” basis.

Winkler said the amenities of the property — which include a kitchen, indoor and outdoor pool areas, a conference room and bar — lend itself to a hotel or motel operation.

When it comes to hotels, “we can always use more,” Bannon said. “Quality hotels, that is. Quality is key.”

While the number of visitors in Madison County ebbs and flows with the seasons, Bannon said local hotels often book quickly during big regional or local events, such as the Indy 500 or conferences at Anderson University.  

The initial deposit required to bid is listed at $50,000. Bids can be submitted to the CBRE office at 311 S. Wacker Drive, Suite 400, Chicago, IL 60606.

According to the last evaluation record from the Madison County assessor’s office, the property’s total value in 2012 was $2,099,900, with about $766,000 of that being from the land.

Find Baylee Pulliam on Facebook and @BayleeNPulliam on Twitter, or call 648-4250.

Text Only
Local Business
  • NWS - HB0715 - Chuck Pagano Pagano breakfast sold out A breakfast with Indianapolis Colts head coach Chuck Pagano is sold out, organizers said Wednesday.

    July 23, 2014 1 Photo

  • Cellular Connection to host backpack giveaway Residents in Anderson will benefit from a national backpack giveaway campaign on Aug. 2.

    July 23, 2014

  • Travel restrictions on Interstate 69 this weekend During at least the next eight weekends, travel north of Anderson on Interstate 69 will be restricted as damaged concrete is repaired.

    July 22, 2014

  • Senior housing request continued A request for final plat approval for a senior housing development on property near Madison Park Church of God was continued Tuesday. The Anderson Plan Commission could not consider the request because of a lack of a quorum to conduct business.

    July 22, 2014

  • Street Department purchases 2 pickup trucks The Anderson Street Department received approval to buy two Dodge Ram pickup trucks on Tuesday.

    July 22, 2014

  • FEA - HB0722 - SAVI - 1 Staying strong during adversity

    When doctors told Judy Best she had cancer she was shocked, but she never lost hope.

    July 22, 2014 2 Photos

  • NWS - HB0721 - 4-H parade 3 - DH Scholarship recipients relish parade acknowledgement

    Taylor Jennings and Shelby Farmer took their last stroll around their hometown Sunday. At least, their last before starting college in the fall.

    July 20, 2014 5 Photos

  • Senior housing sought for Madison Park A senior housing development proposed almost six months ago for the Madison Park Church of God property is now moving forward.

    July 20, 2014

  • Wilkerson, Jesse mug Jesse Wilkerson: Unplug to reconnect I am inspired and influenced by people in our community who are creating a legacy of service. These people have disconnected long enough to realize there is more to their life than their job or personal success.

    July 20, 2014 1 Photo

  • BIZ-HB0720-Coldbeer-TM.jpg Brouhaha over cold beer

    Warm beer lines the shelves inside the Ricker’s BP on Eighth Street less than a foot from a refrigerated section, but the convenience store is not planning to move the beer anytime soon. That’s because a state law prohibits Ricker’s from selling cold beer to customers.

    July 19, 2014 1 Photo

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide