Gilbert Building Sold for $3.2M: Online Auction Gets Hefty Price
Posted on: Saturday, 18 February 2006, 15:00 CST
By Tony Natale, The Tribune, Mesa, Ariz.
Feb. 18--An empty but ready-tomove into commercial building on three acres at 1200 W. San Pedro St. in Gilbert sold for $3.2 million during an online auction.
"It's the largest online auction we've handled since going on the Internet four years ago," said Bill Collier, manager for Ritchie Bros., an auctioneer primarily of industrial equipment with offices in Phoenix.
The property includes an 820-square-foot shop office, a 7,450-square-foot office and a 3,153-square-foot shop and is walled, gated, landscaped and irrigated, Collier said.
It was formerly owned by Archon, whose industrial equipment was sold at an earlier auction by Ritchie Bros. The offices are furnished and ready for immediate move-in, the auctioneer said.
The successful bidder on Thursday is WDC Exploration & Wells, a Woodland, Calif., company that plans to open a branch in Gilbert, said Jeff Morgan, president of the underground exploration firm.
"It was a very convenient way for me to purchase a new location for my company," Morgan said in a statement. "I had my local Phoenix employees check out the location ahead of time and report back to me on the condition of the office and shop. I felt comfortable bidding online. It was really easy."
WDC Exploration & Wells is an underground water drilling company and plans to use the Gilbert office as its Arizona branch.
The online auction included photos of the property and was offered as "an unreserved auction," which means there was no minimum bid. A bidder could offer virtually $1 for the property and, if there were no challengers, would win the sale for that amount.
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Copyright (c) 2006, The Tribune, Mesa, Ariz.
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Source: The Tribune
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