Plymart Building in Stockbridge, GA to be Sold by Auction

ATLANTA, GA, SEPTEMBER 11, 2009 – Sperry Van Ness Interstate Auction Company announced today that it has been hired by Four Corners Realty LLC to sell via auction the former PlyMart Building Supply Center located at 2700 N. Highway 42 in Stockbridge, Georgia. The auction is scheduled onsite on September 24 at 1 p.m.

The property consist of two warehouse distribution buildings encompassing 52,135 square feet with office/showroom space on 9.40 acres of land containing 540 feet of Road Frontage on Highway 42.

The property is currently zoned M-1, ideal for many industrial tenants and users. The property will be offered as 3 separate tracts and/or combined as 1 or 2 tracts. Additional information on the auction can be found at http://www.interstateauction.com/.

According to Four Corner’s CEO Randy Mahaffey, “We really hate to sell the Henry County location – it was one of our best stores, and we had hoped to keep it. However, we have to sell some property immediately, and we felt that this particular location would have the most appeal to buyers.”

With over $400 million in annual sales, PlyMart was one of the largest building supply companies in Atlanta, supplying home builders with the materials to build Atlanta’s neighborhoods for 38 years.

PlyMart supplied Atlanta area builders lumber and other materials on credit. When lenders pulled the plug on new home financing, builders were unable to pay PlyMart and the firm was forced into Chapter 11 in July 2008.

“Auctions are the most efficient way for a property owner to sell in an uncertain market,” said John Johnson,(top right photo)  CCIM, managing director of Sperry Van Ness Interstate Auction. “Instead of lowering your price incrementally until you find what the market will bear, an auction starts low and moves up through competitive bidding until all but one bidder drops out.”

Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com