Marion County Top Five Sales* in 2017
$3,896,780; 175 Community Drive, Marion; October 24, 2017. The sale of the Community Care Rehabilitation nursing home was by far the largest deal in the county in 2017, but a far cry from the $9 million plus the facility fetched in 2013. The property was purchased by 175 Community Holdings LLC – which lists Providence Health Care CEO Eli Gunzberg as a member – from KND Real Estate 16 LLC.
- $3,065,835; 188 America Boulevard, Marion; July 5, 2017. A move that was foreshadowed for months within I-270 when Bob Evans Farms separated it restaurants and frozen foods sections that impacted Marion locally. The local Bob Evans Restaurant – located at State Route 95 just west of the US 23 exit – changed hands “officially” twice in 2017. First transferring in a non-valid sale for $2,379,982 in April and then officially to VEREIT BE Portfolio in July to become part of the VEREIT real estate holdings.
- $2,735,000; LaRue Prospect Road, Green Camp; January 13, 2017. The Gerfen Family Farms put together an impressive purchase of five parcels that included roughly 489 acres of land in Green Camp Township.
- $1,575,510; 227 Jamesway Road, Marion; November 20, 2017. The Los Angeles, Calif., based CNI THL PROPCO FE LLC purchased the Fairfield Hotel by Marriott in November from Fargo Motels.
- $783,195; Prospect Mt. Vernon Road, Prospect; March 17, 2017. Umang and Tracy Nanda purchased two parcels totaling more than 120 acres from
* – Only sales listed “valid” by the Marion County Auditor’s office are included. A valid sale is considered to have been undertaken by two (or more) parties
State of the Marion County Real Estate Market in 2017
Real estate sales showed a nice quantity in 2017 with 2,589 distinct transfers appearing on the Marion County Auditor’s site.
However, Marion County continues to be plagued by sluggish price recovery from the recession. When considered that 92% of the properties transferred were less than $250,000. The largest number of transfers was in the $100 – $49,999 category with 596 properties being exchanged.
There are lots of reasons that the price could be that low – from city lots being exchanged to including sales that are not valid and thus don’t meet the “two separate parties” idea that a valid sale creates.
Toby Boyce is the president and Broker for C.G. Boyce Real Estate Co. Toby was honored in 2015 for as one of the first 300 REALTORS in the nation (only 1.4 million) to earn the “Commitment 2 Excellence” Award from the National Association of REALTORS. He has earned several real estate designations that benefit his clients every single day.