Offers made for former site of Wells dealership

October 14, 2008
Several potential buyers submitted bids today for a handful of properties near Meridian and 16th streets that once housed the Payton Wells car dealership.

Colliers Turley Martin Tucker Auctioneer Bob Getts confirmed bids were submitted but declined to identify the bidders. He said property owners are reviewing the submitted bids.

The auction had originally been scheduled for April 3, but it was delayed to work out a dispute over who would get proceeds of a sale.

A lawsuit originally brought by Regions Bank to foreclose on a $3 million loan to Wells dealerships in Indianapolis and Anderson eventually ensnared prominent local businessman Bill Mays, developer Sid Eskenazi of Sandor Development, National City Bank and a series of potential buyers, including M&I Bank and Gershman Brown Crowley Inc., a lead developer of Hamilton Town Center.

The properties up for auction were 2.5 acres with a 50,000-square-foot building, 1.5 acres with a 5,000-square-foot building and a .4-acre parking lot.

The dealership closed in early 2007.
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