Selling bid: $2,025,000

Saint Petersburg, FL – Auction Sale by Order of the United States Bankruptcy Court

Represented the Debtor and employed as Property Manager, Auctioneer and Broker. Gaslight Square is a neighborhood center consisting of 40,256 rentable square feet and situated on 3.87 acres. The property comprised of eight, two story buildings offering a mix of retail and office spaces. At 55% Occupancy, with the anchor tenant being Chili’s restaurant and  the Department of Veteran Affairs as the second largest tenant.

Marketing Stats:

  • #1 on LoopNet’s Top 10 Most Popular Tampa Bay Listings – 1,882 Views Online
  • 18,000+ Total SVN Database Email Pushes
  • Property Blast Nationwide Email Marketing Campaign – 4,341 Emails Opened
  • PropertyLine.com Specific Auction E-pushes

Summary: The highest initial pre-auction offer was a credit bid from the secured creditor at $1,514,203. The live auction resulted in a final bid amount well above the as-is market value of $1,800,000 at $2,025,000.00. The sale was immediately approved by the Court at the Sale hearing following the auction.