Urban development land sells for $2.75 million

OKLAHOMA CITY, March 30, 2015 /PRNewswire/ -- Approximately 155 acres of urban development land in Mustang, near Oklahoma City, have sold for $2.75 million following an auction that attracted 35 bidders.

"We had a good group that included large developers seeking all the land, independent builders and even individuals hoping to buy a single tract for a home site. Ultimately, the property went to a developer who bought the entirety, and it will be interesting to see what is in store for the Mustang area," said Brent Wellings, who manages Southwest operations for Schrader Real Estate and Auction Company, which marketed the property and conducted the auction.

The land, nine miles southwest of the Oklahoma City Business District, was offered in 15 tracts, 11 of which were 5.1 acres each fronting on either Southwest 44^th Street or Mustang Road.

Wellings said he anticipates a good year in Oklahoma for Schrader following a successful 2014. "As we've become more active in Oklahoma, Schrader has become better known in the area and, more importantly, had consistent success in selling different property types, including farms, homes and land. I'm excited about the opportunities in the area," he said.

Individuals seeking additional information may visit www.schraderauction.com or call 800-451-2709.

Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of agricultural land throughout the United States and is a four-time USA Today/National Auctioneers Association Auction of the Year Winner, as well as a two-time winner of the Grand Champion Marketing Award of Excellence.

For more information:
Carl Carter, 205-823-3273

SOURCE Schrader Real Estate and Auction Company

Related Links

http://www.schraderauction.com

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