PREMIER AUCTIONS : News
 

Anthony warehouses sell at auction for $2.5 million

ANTHONY, TX---Three former Pillsbury warehouses and approximately 58 acres of commercial land in Anthony sold at auction for $2,513,900 Thursday, with J.P. King Auction Company, Gadsden, Ala., managing the sale.

The auction, held for owner Newo Holdings, of El Paso, attracted nine bidders from Texas and New Mexico.

The three warehouses on 30 acres made up the bulk of the sale, with a final price $2,278,500. Also selling were a 20.3-acre land parcel, for $192,500, and a 7.6-acre parcel for $42,900.

“We had a great group of bidders and some of the most attractive commercial property in the area, and that added up to a very successful sale,” said Craig King, president of J.P. King. “This is a major facility, with warehouses of 126,000 square feet, 100,000 square feet and 184,000 square feet, with office and conference space, excellent docking facilities and first class storage. While the buyers did not indicate their plans, it is ideally set up to be a major storage center,” said King.

The property went to two different buyers, who were identified only as being based in El Paso.

“Based on what I saw today, I’d say it’s going to be a busy year in Texas,” said King, whose company opened a new Southwest office in Austin during 2004. The company’s next auction will be that of a luxury home in Coppell, Texas, on Feb. 17. The company also will sell the well-known 5,340-acre Brushy Creek Hunting Plantation in an April 23 auction near Livingston, Texas.

Bidders began gathering at the El Paso Marriott Hotel around 9 a.m., listening to live music and enjoying hors d’ oeuvres while discussing the property and the terms of the auction with bid assistants.

The auction itself lasted approximately 90 minutes, with auctioneer Scott Swenson taking bids on the parcels individually and in various combinations.

J.P. King, headquartered in Gadsden, Ala., is the nation’s largest auctioneer of land, commercial property, ranches, mansions and other high-end properties. Other upcoming auctions include ranches in Colorado and Alabama and a penthouse in Sarasota, Fla.


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