FORT WAYNE, Ind. (WANE) – The iconic Spiece Fieldhouse could soon be under new ownership. The property went on the auction block Tuesday afternoon.
There were no active bids on the property during the sheriff sale, however WANE 15 has learned that an investor or group of investors intend to purchase the property directly from the Old National Bank.
The gym, located at 5310 Merchandise Drive, houses eight basketball courts and a fitness center and has played host to thousands of athletes taking part in various sports leagues, clinics, and tournaments.
Bidding for the property started at $3.6 million. According to Allen County tax records, the property is valued at roughly $2.7 million.
It is unclear who the investors are or what they intend to do with the property. However, a source with the Allen County Sheriff’s Department said the investor had a promissory note for the minimum bid of $3,630,181.83.
With no active bids on the property, the foreclosure goes back to the bank. The bank would work directly with the investor to close the sale of the property.
A post to the Spiece Fitness Facebook page indicates that two investors intend to keep the current tenants.
According to Allen County Property records, Tom Spiece purchased Spiece fieldhouse in 1999.
Gym Rats was the facility’s largest tenant.
Todd Hensley of Gym Rats said the organization moved out of Spiece Fieldhouse at the end of 2016. They are now a tenant at SportONE Parkview Fieldhouse located 3946 Ice Way.
Gym Rats still rents the courts at Spiece for event overflow Hensley told WANE 15. The majority of the tournaments require them to use more than the available 8 courts at SportONE Parkview, he said.
“If Spiece is shut down then it would affect all youth sporting groups,” said Hensley. “Spiece has been a great asset to the community and I would hate to see it go.”
Two separate lenders filed foreclosure papers on Spiece; one in 2014 and another in 2016. Court records show Spiece filed for chapter 11 bankruptcy in August 2016.
The property was transferred for Sheriff’s Sale in September 2019, said a spokesperson from the Allen County Sheriff’s Department said.
There has been a lot of interest in the property, the spokesperson said.