the Denver International Airport
DENVER-AJ Karas Auctioneers will offer 135 acres of commercial land for auction on Friday, December 14, at 1:07 p.mn. The land, located 8 miles from the Denver International Airport Terminal, “will absolutely sell once the minimum bid of $14,800 per acre has been met,” according to the auctioneers.
Zoning for the property is very flexible, allowing for a shopping center, hospital, office park, hotels and lodging or a convention center. It is also suitable for construction of a university or trade school. The city of Aurora has been “very proactive in their efforts to support development in this area, and incentives from the city of Aurora may be available depending on land usage,” according to AJ Karas. In addition, the winner of the auction will have the opportunity to participate in the future of the Denver International Airport Tech Center development.
Considerable development activity is currently occurring in this general area of the city. Close to the parcel is the Denver International Business Center, which has most of the infrastructure already in place. In addition, the RTD Fast Tracks light rail connecting the city with the airport is under construction and scheduled to be up and running by 2016. The parcel is also already earning a monthly income from a long-term lease on a cell tower at the edge of the property.
Brokers are encouraged to register bidders for the auction, as a 2% broker fee is offered. For more information about the bidders and brokers, click here.
As GlobeSt.com previously reported, assets being sold at auction are increasingly moving away from the distressed category. In fact, more of the assets trading on website Auction.com are fully leased, strong-performing properties.