The Joe Caputo & Sons Northwest grocery centers and assets put up for auction last month sold to Piggly Wiggly for a total of $32 million during its May 12 public auction at the Hyatt Regency in Rosemont.
The event quickly became standing room-only when more than 100 professionals came out to see the competitive bidding war that resulted in the sale of all six tracts of the retail properties and assets that Murry Wise Associates and Paine/Wetzel TCN offered up.
Ken Nofziger of Murray Wise Associates said they were aware of the serious interest in these assets coming into the auction but when the auction came to a close, the approximate 50 registered bidders far surpassed their expectations.
The sale is currently pending District Court approval and will close approximately 30 days following court approval.
