PUERTO RICO-Colliers International’s Patrick Remolacio, managing director in the Irvine, CA office, tells GlobeSt.com that the U.S. Department of the Navy will be offering for sale to the public in two separate parcels, an approximate 2,036 acres of land and the existing building within the site boundaries of the former naval station, Roosevelt Roads, adjacent to the communities of Ceiba and Naguabo on the eastern coast of Puerto Rico. The public sale will be conducted through an online auction scheduled for Dec. 1.

“Collectively, $40-million for 2,000 of land perched on gorgeous lush green acreage with existing infrastructure that was put in by the Navy that is still highly functional, is really cheap,” Remolacio tells GlobeSt.com’s Natalie Dolce. He points out that even if there isn’t a market for it today, there certainly will be a market for it in the near future.

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