Bank Orders Well Sited Charlotte Infill Development Site Sold at Auction

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Apr 26, 2011, 03:31 ET

VIRGINIA BEACH, Va., April 26, 2011 /PRNewswire/ -- Tranzon Fox is eager to announce a unique opportunity to name your price for a prime infill, mixed-use development site in Charlotte. The auction will be held on Tuesday, May 3rd, 2011, 10:00 am at the Embassy Suites Hotel Charlotte located at 4800 South Tryon Street, Charlotte, NC 28217.

Rare chance to own a 'ready to go' 4.79+/- acre development site that is extremely well located one block off South Boulevard in Charlotte. The TOD-M zoning encourages a mix of residential, retail and office uses. Located across the street from the New Bern light rail station. "It's such a good location with the right zoning in a dynamic Charlotte submarket, that it is viable for development right now. It doesn't need to be land-banked." Says Bill Londrey, a Partner with Tranzon Fox.

The property is designated as a brownfields site by NCDENR, in order to facilitate redevelopment. Benefits available to a new developer include a five year real estate tax discount/abatement for newly developed improvements. The first year discount is 90%! This site is ideal for LEEDS Silver green development certification.

In addition, seven other Bank Owned properties in the Charlotte and Shelby areas are being sold at the same auction including a former car dealership, residential homes and residential lots. The 16,600+/- sf former car dealership with commanding visibility overlooking Highway 74, East Dixon Boulevard, in Shelby, NC is sited on a 2.45+/- acre site and was extensively remodeled in 2005.

A complete information package for each property may be obtained from www.tranzon.com. All real estate agents are encouraged to earn a fee through the auction by representing winning bidders.

Tranzon Fox, with offices in North Carolina (NCAF4953), Virginia, Maryland, and the DC Metro area, is a member Company of Tranzon, L.L.C., and is a full-service auction and real estate disposition company. Tranzon has over 34 offices from coast to coast. For more information about this auction or to learn more about Tranzon visit www.tranzon.com.

SOURCE Tranzon Fox