111-year-old Local Printer Closing Shop

[news]

111-year-old Local Printer Closing Shop
Nashville's 111-year-old McQuiddy Printing closing
By Getahn Ward

An online auction kicked off Monday on property at 711 Spence Lane, long home to more than century-old commercial printer McQuiddy Printing, which is closing its doors after being acquired by a Georgia-based company.

The starting bid on the 83,000 square foot industrial building and the 7.69 acres it sits on was $900,000, according to the listing at auction.com. The seller is an affiliate of Houston-based Nationwide Argosy Solutions LLC, which sold McQuiddy to commercial printer Geographics Inc. of Atlanta.

The online auction is expected to end Wednesday, according to the listing on auction.com by Cushman & Wakefield|Cornerstone broker Sue Earnest. It's a reserve auction, which means the seller has set a desired minimum price.

Last week, McQuiddy employees were told Nationwide Argosy had sold the operation to Geographics. Most production workers were let go as Geographics plans to move the printing operations to Georgia, and all but eight salespeople plus a handful of others were retained for now.

Nationwide took over management of McQuiddy in 2001 after then-owner, Memphis-based Master Graphics, had filed for bankruptcy.

The late J.C. McQuiddy opened McQuiddy Printing in 1903. It remained in family hands through the fourth generation until the 1998 sale to Master Graphics.

In recent months, family members David McQuiddy and Webb McQuiddy left the business that prints catalogs, magazines and direct-mail pieces. "It's a sad day," Webb McQuiddy said last week upon learning about the closing.

Will McLemore, president of McLemore Auction Co. in Nashville, is seeing more online-only auctions of warehouses and other real estate properties.

"It makes it easier for the buyer to participate," he said, adding that a suitor can simply inspect the property once beforehand and then put in an offer.

The 7.69-acre site that includes the former home of McQuiddy Printing is up for sale in an online auction

111-year-old Local Printer Closing Shop
Nashville's 111-year-old McQuiddy Printing closing
By Getahn Ward

An online auction kicked off Monday on property at 711 Spence Lane, long home to more than century-old commercial printer McQuiddy Printing, which is closing its doors after being acquired by a Georgia-based company.

The starting bid on the 83,000 square foot industrial building and the 7.69 acres it sits on was $900,000, according to the listing at auction.com. The seller is an affiliate of Houston-based Nationwide Argosy Solutions LLC, which sold McQuiddy to commercial printer Geographics Inc. of Atlanta.

The online auction is expected to end Wednesday, according to the listing on auction.com by Cushman & Wakefield|Cornerstone broker Sue Earnest. It's a reserve auction, which means the seller has set a desired minimum price.

Last week, McQuiddy employees were told Nationwide Argosy had sold the operation to Geographics. Most production workers were let go as Geographics plans to move the printing operations to Georgia, and all but eight salespeople plus a handful of others were retained for now.

Nationwide took over management of McQuiddy in 2001 after then-owner, Memphis-based Master Graphics, had filed for bankruptcy.

The late J.C. McQuiddy opened McQuiddy Printing in 1903. It remained in family hands through the fourth generation until the 1998 sale to Master Graphics.

In recent months, family members David McQuiddy and Webb McQuiddy left the business that prints catalogs, magazines and direct-mail pieces. "It's a sad day," Webb McQuiddy said last week upon learning about the closing.

Will McLemore, president of McLemore Auction Co. in Nashville, is seeing more online-only auctions of warehouses and other real estate properties.

"It makes it easier for the buyer to participate," he said, adding that a suitor can simply inspect the property once beforehand and then put in an offer.

The 7.69-acre site that includes the former home of McQuiddy Printing is up for sale in an online auction

[Author]

December 18, 2014 at 11:09 AM