June 27, 2014
Auctioneers, a leader in the accelerated marketing and disposition of quality
real estate, is pleased to announce the auction sale of 2 Prince Ave. in Lowell, MA on
June 26, 2014 on behalf of The Lowell Five Cent Savings Bank. The 320,000+/-
sf. former Prince Manufacturing Company facility is centrally located on
14.4+/- acres off the Lowell Connector with easy access to Routes 3, I-93 and
a priority economic development area, the property is zoned LI for light
industrial, manufacturing, storage, educational, and other uses with ample
parking, loading docks, and elevators.
the auction, more than 45 spectators watched as 8 registered bidders, each with
$50,000 in certified deposit funds in hand, competed for this commercial
property. Firm President and auctioneer,
Justin J. Manning opened the bidding at $2 Million and it quickly escalated
north of $3 Million in a bidding war between an agent for a well-known developer
and a local contractor. After the dust settled, a final purchase price of
$3,656,500 was achieved.
Auctioneers sells high value commercial & residential real estate. With a full schedule of upcoming auctions, the
firm is currently accepting consignments for the 3rd Quarter of 2014. Please visit www.JJManning.com or call
800-521-0111 for further information.
Auctioneers provides expert accelerated marketing and asset disposition
solutions to Fortune 500 companies, REITs, corporations, government agencies,
financial institutions, REO portfolio managers, small businesses, and private individuals
across America. Since 1976, JJManning Auctioneers has
successfully marketed and sold over 14,000 commercial, industrial, and
residential real estate properties.