National Commercial Auctioneers Accepts Sealed Bids on Valuable Industrial Property Adjacent to San Antonio International Airport

TULSA, Okla., Aug. 17, 2011 /PRNewswire/ -- National Commercial Auctioneers [www.natcomauctions.com] announces the sealed bid auction of a valuable industrial property adjacent to the San Antonio International Airport and only minutes from I-410, I-35 and I-10, according to Stephen Karbelk, CAI, AARE, CEO & Founder.  The property is being sold for Mr. Johnny Thomas, Chapter 7 Bankruptcy Trustee in the Southwest Contract Packing I, Inc. case.

"This exceptionally well located brownfield site is the ideal commercial real estate investment for remediation and redevelopment," said Karbelk. "This property will sell subject only to a $100,000 minimum bid and pursuant to the court-approved bidding procedures."  The property is classified as a brownfield site since it has environmental issues that require immediate attention.  The property also has a combined 2010 assessment of $2,420,000 so this is an opportunity to get a valuable property at an auction price.

The United States Bankruptcy Court has approved specific bidding procedures and bidder qualification.  In order to participate in the sealed bid auction, each bidder must have the financial ability to purchase and clean-up the property as well as have experience with managing the remediation of brownfield properties.  

Located at 10511 Wetmore Road, San Antonio, TX, the property consists of two parcels totaling 7.749 acres with 144,560 sq. ft. office, industrial and warehouse space.

"With a property classification of industrial light manufacturing, this property has many potential uses after undergoing an environmental clean-up program acceptable to the TCEQ," noted Karbelk.

Sealed bids are due by Saturday, September 10, 2011, at 3pm. Inspections are scheduled for August 19th and 26th from 10am to noon. Broker participation is offered and encouraged. For more details on how to receive the property information package, the available environmental reports, the Bidding Procedures and Asset Purchase Agreement and to inspect properties, visit www.natcomauctions.com or call toll free at (877) 895-7077.  

National Commercial Auctioneers is a nationwide auction company that specializes in commercial sales for banks, special servicers, receivers, Trustee's and bankruptcy courts.

SOURCE National Commercial Auctioneers