Building for game maker Fundex set for July auction

Back to TopCommentsE-mailPrintBookmark and Share

One of the last remnants of the bankrupt Fundex Games Ltd. company—the headquarters building it occupied in Plainfield—is set to be sold at auction in late July.

Fundex, once the sole distributor of the game industry’s second-most-popular card game, Phase 10, folded late last year. Propel Equity Partners, parent of Plymouth, Mich.-based Poof-Slinky Inc., the maker of the iconic Slinky, paid $1.7 million to purchase Fundex in December.

“They took possession of the inventory after the sale closed, and that was all they needed,” said K.C. Cohen, a local bankruptcy attorney still representing Fundex in its liquidation.

The building is set for auction July 31 and will be sold regardless of the amount of the highest bid, said Jeff Doner, vice president and managing broker of Indianapolis-based Key Auctioneers.

“It’s got about anything anybody would want in a state-of-the-art distribution center,” he said. “We think we’ll have good interest in the property.”

The building technically is owned by 1570 S. Perry Road LLC, established by Fundex owner Chip Voigt and named for the building’s address. Fundex began occupying the building upon its completion in February 2007. The company signed a 21-year lease that was to expire in 2028, court records show.

Voigt listed the building before the bankruptcy for $5.2 million and lowered the asking price to $4.9 million before taking the building to auction. About $3 million is left on the mortgage, said Jeff Hester, a lawyer representing Voigt in the bankruptcy.

The 102,400-square-foot structure includes 15,000 square feet of office space on two floors and sits on more than 10 acres of land. A 1.75-acre pad has been built to accommodate a 50,000-square-foot expansion.

Other features include an on-site workout facility, eight loading docks and a 100-space parking lot.

The building is well-configured but actually might suffer from its large amount of office space, said Andrew Morris, a partner at the Summit Realty brokerage. Most companies locating to Plainfield’s industrial parks do so for large amounts of distribution space with little need for a lot of offices, he said.

A prime example is the former Galyan’s headquarters building that has had trouble through the years attracting office tenants, Morris said.

“You have a limited pool of prospects interested in owning [the Fundex] building in the Plainfield marketplace,” he said.  

Fundex’s bankruptcy represents a steep fall for the company that once had 50 employees, and offices in Hong Kong and New York. Besides Phase 10, its other popular games included Gnip Gnop and What’s in Ned’s Head?

What’s in Ned’s Head?, which lets children remove fake items like moldy cheese, vomit and a rat from a stuffed head’s orifices, won a slew of awards and helped make Fundex a growing player in the game industry.

Three years ago, Fundex boasted annual revenue of $25.8 million, according to court documents. Revenue, however, fell by nearly half, to $13.3 million, in 2011.

Some of its financial problems likely could be attributed to the loss of Phase 10, which is now distributed by Mattel.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1