(Read more on the industrial market.)

MONTGOMERY, AL-A local insurance company is bringing 929 acres to market through auction in late September. Though there is no minimum bid on the industrial-zoned acreage, land for industrial use in the state has sold for between $20,000 and $50,000 per acre.

Land owner Alfa Properties Inc. purchased the land south of US 80 and west of US 31 during the 1960s and 1970s for investment purposes. According to David Rickey with Alfa Insurance, the company’s decision to diversify geographically and to reposition land assets were the reasons for the sale.

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