Downtown Land - Fall 2013

All the bank-owned “distressed sale” downtown vacant land parcels have been sold with the exception of the Quay property and buyers are circling this property developing plans to acquire the massive 14 acres just north of the Ritz Carlton Hotel.  Seventeen bank owned properties, some containing multiple parcels, have sold in the past three years.  All have been cash transactions totaling approximately $17,957,410.   Developers purchased some of the properties and others were purchased by investors recognizing a “good deal”.  This is a prime indicator of the long term desirability of our market!