(Read more on the industrial market.)
MONTGOMERY, AL-A local insurance company is bringing 929 acresto market through auction in late September. Though there is nominimum bid on the industrial-zoned acreage, land for industrialuse in the state has sold for between $20,000 and $50,000 peracre.
Land owner Alfa Properties Inc. purchased the land south of US80 and west of US 31 during the 1960s and 1970s for investmentpurposes. According to David Rickey with Alfa Insurance, thecompany's decision to diversify geographically and to repositionland assets were the reasons for the sale.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
