Rome-based Dempsey Auction will be selling two buildings in historic downtown Rome on the same day in mid-May.
Property at 110-112 Broad Street, the Cotton Block, was renovated for the purpose of developing into another pizza restaurant never got past the renovation stage. The completely sprinkled building includes a glass front and facade, a large bar area with refrigerated tap-room, a dining area, an open pizza kitchen, a commercial kitchen with two walk-in coolers, a banquet room, several offices, six restrooms and a storage area with roll-up door.
The building is in a qualified opportunity zone and zoned for Central Business Commercial purposes. Among the fixtures that are being sold are a couple of pizza ovens, several refrigeration units, prep tables, deep fryer units, over 100 chairs, more than 60 stools, 10 high-top tables and 20 other tables.
The Master’s Antiques building at 242 Broad Street will also be on the auction block at the same time. Master’s Antiques windows have been covered with a brown paper for months. Auctioneer Lou Dempsey said.
“The building is ready for rehab and is ideal for retail and residential use in the spirit of everything that’s happened on the 200 block,” said Dempsey.
“We’ve had a ton of interest in both buildings,” Dempsey said.
Both sales are slated for Thursday May 16 at 2 p.m. from the building at 110 Broad Street.
Hydro Dynamics shaking up cannabis industry
NewBridge Global Ventures Inc., a company focused on the emerging and dynamic legal and regulated cannabis industry, has signed a Technology License and Partnership Agreement with Hydro Dynamics Inc. of Rome.
The deal gives NewBridge an exclusive license to all of Hydro Dynamics Intellectual Property and patented technology and creates a partnership to bring their patented controlled cavitation process to the cannabis industry.
NewBridge issued Hydro Dynamics 2,125,000 shares of its common stock and will make additional cash payments of $60,000 in 2019, $250,000 in 2020 and 2021 and $100,000 per year thereafter as a License Maintenance Fee. Additionally, Hydro Dynamics will receive a 3% royalty on net revenues derived from the company’s sales of the Rome-based firm’s reactors.
“We look forward to working closely with them to bring more efficient and profitable operations to the cannabis industry,” said Bob Bench, interim president and CFO, in a press release. “We believe that the partnership that we’ve formed with them is game changing for NewBridge Global Ventures.”
“We look forward to leveraging both companies’ experience, know-how and expertise to achieve the same processing breakthroughs in the cannabis industry as Hydro Dynamics has had in other industries such as hops extraction in breweries, biofuels, and micro-mixing chemicals,” said Kelly Hudson, CEO of Hydro Dynamics.
New CEO at LakePoint
LakePoint Sports, the Emerson-based youth travel sports destination, has named Mark O’Brien as its new president and CEO.
O’Brien, most recently recently served as president of Mizuno USA and chairman of Mizuno Canada.
“Mark has a robust background with deep experience in sports, marketing, retail and customer satisfaction while leading organizations,” said Jeff Bemis of Rimrock Capital Management, the owner of LakePoint in a press release. “He has a special expertise in helping set brands up for lasting success.”
He also worked in sports marketing and branding for the NBA’s Houston Rockets, assisting with the franchise’s brand partnerships.
“LakePoint is truly unlike any other youth sports campus in the country — an impressive and impactful experience that stands above the rest,” said O’Brien. “I’ve always had a passion for sports and for supporting kids with ambition and drive as they work toward their goals on and off the field. I am thrilled to join LakePoint and intend to ensure that, through its continued excellence and outstanding service delivery, it is a destination for young athletes to live out their dreams for decades to come.”