Auction Will Offer 15 Acres of Beachfront Land in Four Tracts or as a Whole
Fifteen acres of prime East Beach development land is hitting the auction block on Wednesday, February 23 during a multi-parcel bankruptcy auction. This property, which will be offered in four tracts or as a whole, is located adjacent to the Palisade Palms condominiums and encompasses 800 feet of Gulf of Mexico beachfront land.
Originally slated for use as phases III & IV of the Palisade Palms development, this property garners the majority of Galveston Island’s remaining beachfront land available for direct, on-the-beach commercial or multi-story development and is located in the island’s only zone experiencing beach growth, as a result of accreting sand deposits. Through the creation of a tax increment reinvestment zone to facilitate utilities and services and a management district through the state legislature to assure a controlled and maintained development environment, the former developer has ensured that the property has the proper governmental land entitlements.
Conducted by Scott Swenson, President and Chief Auctioneer of United Country – Jones Swenson Auction Marketing in conjunction with Colliers International Houston, the live auction will take place on Wednesday, February 23 at 2:00 p.m., at the Central Tower, Four Oaks Place Office Complex located at 1330 Post Oak Blvd., Houston, Texas. Pre-bids and financials are required by February 16.
“This auction truly is a rare opportunity for investors to name their price on some of Galveston’s best beachfront development land. The future potential of this property is immeasurable,” said Swenson.
Property details, photos and terms and conditions can be found at http://www.AuctionGalveston.com. United Country – Jones Swenson Auction Marketing can be contacted at 512-261-3838 for questions regarding bidding procedures and terms of sale. For question regarding the real estate, contact Charles H. Herder with Colliers International Houston at 713-830-2100.
About United Country
United Country Real Estate is the largest fully integrated network of conventional and auction real estate professionals in the United States. Based in Kansas City, Mo., the company has been an innovator in real estate marketing since 1925. United Country supports 600 offices across the U.S. and in Costa Rica with a unique, comprehensive marketing program that includes one of the largest portfolios of property marketing web sites (more than 1,100 separate sites), seven proprietary real estate catalogs with a cumulative distribution of 1.5 million readers, an extensive, current buyer database and national advertising of properties that reaches more than 90 million homes per week. United Country has recently been recognized by Dun and Bradstreet’s AllBusiness.com, The Land Report, Entrepreneur and The Wall Street Journal as one of the top U.S. real estate franchises.
This property was formerly intended to be part of the Palisade Palms master plan and in some of the marketing materials it may be listed as “Palisade Palms III & IV”; however, this property has not been incorporated into the Palisade Palms master plan. It is in no way associated with the Palisade Palms Condominiums.
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