By Ryan Cornell
EDINBURG -- A real estate auction on the building formerly used by the C.E. Thompson & Sons retail hardware and lumber store yielded zero bids.
The auction was held in the store on Wednesday afternoon. About 20 people attended the auction, which lasted four minutes.
Located about a half-mile east of Interstate 81, the building at 201 Stoney Creek Blvd. in Edinburg totals about 24,000 square feet.
The building is owned by Mary Lou Thompson through O.J. Properties LLC. Joe Foltz of Foltz Auctions served as auctioneer.
Foltz started the price at $500,000, and quickly dipped to $400,000 and $300,000 when no bids were offered.
He lowered the price some more before finally settling on $225,000.
"Folks, the family does not want to go any lower than this to start the property," he said. "...If nobody is willing to start at $225,000, we'll take it down at this point."
Following the auction, Mary Beth Foltz, daughter of Thompson, said she was disappointed with the outcome, but hopeful.
"We had some interest in it, we had some people look at it, so maybe they'll contact us later, you never know," she said.
She said they would also be willing to rent the building out.
"I think the economy is still down, but you know, there's continued expenses on this property and we did try to rent it, which we would have entertained, and we would still entertain renting it if we don't sell it," she said.
The store's shelving and remaining supplies will be sold at a later auction.
Interested buyers are asked to contact Mary Beth Foltz at 540-984-4797.
Contact staff writer Ryan Cornell at 540-465-5137 ext. 164, or email@example.com