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ORLANDO-Locally based Kellogg Development Co. principal Roger Kellogg and Orlando lawyer John C. Mitchell, in a hurry to invest in commercial properties in Texas and Colorado, sold four prime area office buildings in one afternoon for a total $15.12 million at an absolute auction.

Chicago-based Sheldon Good & Co. Auctions executive managing director James M. MacDonnell called the event “one of the most dramatic absolute auctions since the days of the Resolution Trust Corp.” in the 1980s. Suggested opening bids totaled $4.6 million. At an absolute auction, the top offer wins, regardless of the suggested bid amount.

Three buyers out of 180 registered bidders from 33 states and two undisclosed foreign countries purchased the properties, whose sizes and ages were not disclosed in a prepared statement from the auctioneer. The buyers’ names were also not disclosed.

The properties were the Parke 33 Business Center: 4364-4382 L.B. McLeod Rd. and 3301-3337 Bartlett Blvd., Orlando, sold for $4.36 million after a suggested opening bid of $1.5 million; the 900 Building: 900 University Blvd. North, Jacksonville, FL, sold for $4.2 million after a starting bid of $1.4 million; the Chantilly Court Office Building: 1555 Howell Branch Rd., sold for $3.46 million with a starting bid of $900,000; and the Island Lake Business Center: 1060 W. State Rd. 434, in suburban Longwood, FL, after a starting bid of $800,000.

Kellogg says a conventional sale of the four properties might have taken six months or longer to close. By promoting the sale as a must-sell-today event, the auction drew a national investor audience, the developer says. The auction was held behind closed doors at the Renaissance Orlando Hotel-Airport.

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