Global Real Estate Auction in Miami
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The auction is going global in commercial real estate sales. Sheldon Good & Company Auctions International, the world's largest real estate auction company, and its Chairman and CEO, Steven L. Good, today announced the first of a series of auctions to be conducted under a five-year agreement between Sheldon Good & Company and the Urban Land Institute. The total auction series is slated to generate $100 million in sales.
The auctions will be conducted on various dates in late November and early December. David Howard, Executive Vice President of Membership and Development for the Urban Land Institute, said: "Our association with Sheldon Good & Company offers ULI members the opportunity to place a spotlight on properties they wish to buy or sell, through a joint marketing effort.
Properties signed for sealed bid events for ULI's Fall 2008 Global Auction are:
• A breathtaking 325-acre, six-parcel, Laguna De Mitla oceanfront and lagoonfront development site just minutes north of Acapulco, Mexico in an area where the Mexican Government is committed to establishing the world's newest and most acclaimed resort destination. (Sealed bid deadline: December 2nd)
• A ten-acre, tri-towered condominium/marina waterfront development project in Miami, offering an outstanding and potentially lucrative investment opportunity for the forward-looking developer. (Sealed bid deadline: December 9th)
• A 37-acre development site in Port St. Lucie, FL, the only large development retail parcel available in its area, ideal for shopping center interests or for mixed-use development. (Sealed bid deadlines: December 9th)
• A spectacular 483-lot turnkey residential subdivision in Puebla, Mexico, a highly attractive seven-cluster package of single-family lots worth an aggregate of $40 million. (Sealed bid deadline: December 3rd)
• The only complete available bay for sale in all of Baja, California, in Ensenada, Mexico. Included in the 177-acre expanse is a 1.47 km oceanfront, a small residence, a 2500 ft long runway, its own water supply, abundant wildlife and most of all, supreme privacy. (Sealed bid deadline: December 4th).
• Muskegon, Michigan: 48-acre retail or commercial development site in Fruitport Township at intersection of I-96 and US31 (Sealed bid deadline: November 20th)
"The opportunity to create a global auction forum with the Urban Land Institute has unlimited potential, and we're confident that the auction vehicle will prove its worth in moving some of the world's most spectacular properties," the auction company's Mr. Good said.
The Sheldon Good & Company CEO added: "For decades, astute owners of significant properties around the world have relied on professionally-planned, well-executed Sheldon Good & Company real estate auctions to market and sell their properties, achieving a level of success that traditional methods often cannot match."
Expanded property information:
• Laguna de Mitla, Mexico, oceanfront and lagoonfront development opportunity, 45 kilometers north of Acapulco. Sheldon Good & Co. will auction six breathtaking parcels totaling 325 acres (131 hectares), with 5,000 ft. of Pacific Ocean frontage. The parcels range in size from 28 acres (11.31 hectares) to 122 acres (49.28 hectares). This pristine oceanfront location is slated to become the next tourist destination on Mexico's Pacific Coast. Savvy bidders can become part of the planning stages of this newly designated tourism corridor and if successful, they can become a founding owner of the exciting master-planned international resort community at Laguna de Mitla, Costa Grande de Guerrero. Work has already begun on a new superhighway connecting this area to Mexico City, Acapulco and Ixtapa-Zihuatanejo, which will pass within seven miles of these properties.
Mr. Good said: "Visionaries of the world of development, investment and hospitality have the unprecedented opportunity to help create a new and dramatic international vacation Mecca: Laguna de Mitla. Whether purchasing one, several or all of the properties, new owners can join an exclusive fraternity of those who have master - planned an entire community from the onset, to create the finest and most appropriate use of one of Mexico's most incredible stretches of land."
Mr. Good said that the Mexican government is committed to establishing Laguna de Mitla as the world's newest and most acclaimed international destination. Mr. Good added that the Mexican government has already begun work on the expansion of Highway 200 from Ixtapa-Zihuatanejo to Acapulco, while addressing the need for the latest environmentally sensitive infrastructure.
Minimum bid: $11.8 million, or $9.00 per square meter. A certified or cashier's check in the amount of 5% of the total bid price is required to buy. Sealed bids shall be delivered by 4 p.m. CT on Tuesday, December 2nd to: the Laguna de Mitla Land Auction Project manager, Sheldon Good & Company Auctions, LLC, 333 W. Wacker Drive, Suite 400, Chicago IL 60606.
Viewing dates: Inspections begin in Acapulco on October 23 and November 6, 13 and 25 by appointment only. Please call the project manager at 1-800-315-2199 to schedule an appointment at least three business days in advance.
• Miami, Florida: Hurricane Cove Marina at 1818-1884 NW North River Drive. Sheldon Good & Company, in a sealed bid event on December 9th, will auction this outstanding investment property with an excellent waterfront development potential. This irregular site measuring 10.416 gross acres, (inclusive of 3.23 acres of submerged land) has 1,000 feet of frontage on the Miami River. It is presently the largest operating marina on the river with 130 slips and a boatyard.
The marina's superior location, the widest point on the Miami River, offers an exciting and potentially lucrative opportunity for the forward-thinking buyer who seeks to place equity in an attractive waterfront development opportunity. Preliminary plans consist of the development of three high-rise condominiums towers with restaurant and retail space, a 130-slip marina and 1,737 parking spaces. Redevelopment plans are contingent upon municipal approvals and are included in the sale.
The property will be sold subject to a minimum bid of $25 million ($2,500,000 per acre). A certified or cashier's check in the amount of $750,000 is required to buy. Sealed bids shall be delivered by 3 p.m. CT on Tuesday, December 9th to: the Urban Land Institute 2008 - Miami Marina Project Manager, Sheldon Good & Company Auctions, LLC, 333 W. Wacker Drive, Suite 400, Chicago IL 60606.
On-site inspections: 10 am on October 28th and November 11th
• El Pedregal Development, turnkey residential 483-lot subdivision in Puebla, Mexico: Sheldon Good & Company in a sealed bid event will auction a spectacular, seven-cluster package of single-family lots, two of which will include commercial areas. This package of highly attractive residential auction potential has an aggregate worth estimated by real estate professionals at $40 million. According to Sheldon Good & Company Chairman/CEO Steven L. Good: "This is a unique opportunity to purchase the best residential development in Puebla, Mexico, located just 15 minutes from the historic city center and 90 minutes from Mexico City."
The subdivision will be available in seven clusters of lots from 45 to 137 lots or in its entirety in a sealed bid auction event. Wednesday December 3, 2008 at 4 p.m. CT is the deadline for delivering sealed bids to: El Pedregal Project Manager, Blvd. Antonio L. Rodriguez #3058, Plaza Delphi Suite 404-A, Col. Santa Maria, Monterrey, Nuevo Leon 64650.
Inspections are by appointment only and need to be made three days in advance. Please contact Sheldon Good de Mexico at 001-52-81-1097-0353 to make an appointment. A certified or cashier's check in the amount of 5% of the Total Purchase Price (US) must be included with the bid, whose terms and conditions will be found in the Bidders Information Packet, the purchase of which is a bid requirement.
Located 15 minutes from downtown Puebla in the suburb of "Cerro La Calera," El Pedregal, according to Mr. Good, is a true turnkey development. The development consists of 99 acres (40 hectares) with 424 lots, divided into six clusters. El Pedregal is the only development in the central and southern regions of Mexico with middle to high-end residential homesites in one subdivision. All of the amenities and infrastructure are already in place so developers and investors who purchase a portion or all of the lots can begin construction or sell lots immediately, providing for a quicker return on their investment. Mr. Good said that seventy-four of the total 483 lots have been sold and homes have been completed on many of them.
About Puebla: With a population of 1,485,491 in its municipality, Puebla is the largest and capital city of the state of Puebla. The population of its metropolitan area ranks it as the fourth most populous area of Mexico and one of the largest in North America. Puebla is an important industrial, cultural and educational center of Mexico for the central and south-east regions. It is also one of the oldest colonial cities in the continent.
With more than 20 universities, Puebla is second only to Mexico City in the number of universities within its borders. During the first hundred years after the War of Independence, Puebla, the second city of the New Spain, was the first to industrialize. Today, Puebla is still an important industrial city, mainly in the textile sector. Puebla is also home to the Mexican headquarters and the only North American manufacturing site of Volkswagen, which assembles the Jetta and New Beetle models. Other German and French manufacturing companies operate in the city, most of them outsourcers for Volkswagen.
• Ensenada, Mexico, Bahia Soledad (Solitude Bay): Sheldon Good & Company in a sealed bid event will auction the only complete available bay for sale in all of Baja, California. Its total 177-acre expanse includes a small residence, a 1.47 km long oceanfront, and a 2500 foot runway for takeoff and landing of helicopters and small planes, with all legal permits in place, its own year-round water supply, abundant wildlife, excellent fishing and only a few neighbors in sight.
The property is 96.8 miles from the San Diego/Tijuana border and 65 nautical miles from Brownfield airport in San Diego.
According to Mr. Good: "Few places in Mexico provide a true sense of seclusion, serenity and peacefulness while still near civilization. This magnificent bay in the Pacific Ocean is certainly one of those places. Our auction of this wonderful property will give the successful bidder the opportunity to build the project of their dreams, such as developing a leisure and recreational facility to use all of their favorite toys, a private club for their friends, a summer housing development, a rehabilitation center, or anything else. There are no restrictions for building on this bay."
Development interests should note: Approximately 30 hectares are flat or almost flat; another 35 hectares are sloped. Property beachfront is approximately 165 feet wide x 1.4 km long. There is a north end property on the land, a 1,075 sq. ft., two-bedroom/2 bath building, moderately furnished, with Mexican tile kitchen, storage room, gas stove and solar panel electricity.
The property offers total privacy. One-fifth of the bay is adjacent to the property's oceanfront. The property dominates land and ocean access to the bay.
Sealed bids should be sent with 5% down in certified funds by 4 p.m. CT on Thursday, December 4th to: the Bahia Soledad Auction Project Manager, Blvd. Antonio L. Rodriguez #3058, Plaza Delphi Suite 404-A, Col. Santa Maria, Monterrey, Nuevo Leon 64650.
Inspection dates: the properties are available for inspection by appointment only on Tuesdays through Thursdays. Please contact Sheldon Good de Mexico at 001-5281-1523-0388 to make an appointment.
• Muskegon, Michigan: Shopping Center development site in Fruitport Township at intersection of I-96 and US31: Sheldon Good & Company in a sealed bid event will auction a 48-acre commercial development site consisting of one 43-acre parcel and five smaller out lots in an area considered to be the epicenter of retail commerce for Muskegon and North Ottawa Counties. The property has utilities to the site and is immediately developable.
The property is immediately adjacent to The Lakes Mall, a 600,000-square foot regional mall anchored by Sears, Younkers, JC Penney, Bed, Bath and Beyond and Dick's Sporting Goods. Daily traffic counts at the mall total 71,000 cars per day.
Mr. Good said: "We see a significant retail upside potential here, particularly with shopping center interests, as The Lakes Mall is already a significant magnet in attracting shoppers." Mr. Good said that the property is part of a Planned Unit Development and is ideal for a variety of commercial uses including, retail, office, and hotel or health care facilities.
The properties will be offered in a sealed bid event. Bids should be delivered no later than at 4 p.m. CT on Thursday, November 20th to: the Muskegon Auction Project manager, Sheldon Good & Company Auctions, LLC, 333 W. Wacker Drive, Suite 400, Chicago, IL 60606. A certified check in the amount of 5% of the Total Purchase Price is required to bid and Seller Financing is available. The remainder of the bid is due at closing. Bids will be considered for those submitted at or above the Seller's Disclosed Reserve Price of $0.75 per square foot for the 39-acre tract and $6.00 per square foot for the out-lots.
• Port St. Lucie, FL: Sheldon Good & Company, in a sealed bid event will auction a 37-acre site for potential commercial retail multi-use development, located on Port St. Lucie Blvd. Zoned CG General Commercial, the site is ideal for retail, a shopping center, or mixed use. This is the last large parcel of its kind at the corner of Port St. Lucie and Darwin Boulevards and the only large development retail parcel east of I-95 in Port St. Lucie.
This property is being offered in a sealed bid auction format, with bids due by 3 p.m. on Tuesday, December 9th at Sheldon Good & Company, 333 W. Wacker Dr., Suite 400, Chicago, IL 60606. Attention: 2008 Urban Land Institute - Port St. Lucie Project Manager.
Minimum bid: $12.5 million ($335,570 per acre). A certified or cashier's check in the amount of $350,000 is required to buy. Inspection dates are by appointment only. Please call 800-315-2199 to schedule an appointment.
The site offers strong daily traffic along Port St. Lucie Blvd and is minutes away from Windmill Point Elementary School, Robert E. Minsky Gym, Treasure Coast High School, Whispering Pines Community Park and myriads of well-established neighborhoods, all of which could easily support a shopping center or other retail development.
Employing the auction format benefits members of the Urban Land Institute regardless of whether or not they are buying or selling in this series of auctions. Mr. Good explained, "Our association with the Urban Land Institute offers the opportunity to network with property owners in all classes who seek quality disposition services and gives us an opportunity to demonstrate again and again that auctions WORK"
For brochure, terms of sale and further information about this auction series, please telephone (800) 315-2199. International callers should telephone: 00-1-312-373-4300, and contact Steve Good, Chairman and Chief Executive Officer or Jim MacDonnell, Executive Managing Director, or via e-mail at stevengood(at)sheldongood.com or jmacdonnell(at)sheldongood.com.
About the Urban Land Institute
Founded in 1936, the Urban Land Institute (www.uli.org) and its global membership of more than 40,000 leaders in the field of real estate and land use are among the industry's most notable names, having inspired and created many of the most recognized projects in communities around the world.
About Sheldon Good & Company and Steven L. Good
Sheldon Good & Company International, LLC (www.sheldongood.com), founded in 1965, has sold more than 45,000 U.S. and international properties in more than 100 different classes and produced more than $10 billion in sales. The global real estate marketing firm, with offices in Chicago, Manhattan, Scottsdale, Denver, Houston and Monterrey, Mexico, has been ranked as the largest real estate auction firm in the U.S. and is often referred to as the Christie's of the real estate auction industry. Steven L. Good, chairman and CEO of the firm, is an attorney, AARE (Accredited Auctioneer of Real Estate) and the author of a top-selling book, Churches, Jails, and Gold Mines ... Mega-Deals from a Real Estate Maverick (Kaplan, hardcover), which features an afterword by Donald Trump. |
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