Inland Real Estate Auctions, Inc. announced today that it will be auctioning a 118,000-square-foot industrial facility in Phenix City, Ala., that has previously housed a carpet manufacturing company and a candle and bath lotion manufacturer. Originally priced at $2.8 million, it will be sold to the highest bidder that meets or exceeds the reserve price of $1.64 million, or $13.90 per square foot. The auction will take place April 30th.

“This is one of the most versatile industrial facilities we have been involved with,” said Paul Rogers, senior vice president of Inland Real Estate Auctions. “The auction process is an excellent way to make this kind of quality property stand out in a crowded field. The industrial market is softening somewhat and sellers are utilizing the auction as a way to focus all the attention in the marketplace on their property.”

The property, located on 30 acres in the Phenix Industrial Park, has great capacity for expansion or redevelopment. Just five minutes from the Georgia state line and less than one hour from a brand-new Kia automobile manufacturing plant, the facility features 40-foot ceilings, 7,400 square feet of modern office space, a fully-equipped sprinkler system and parking for 145 cars.

More info www.inlandgroup.com

Posted: 03|6|08 at 9:34 pm. Filed under: Auction News.