SEALED BID AUCTION!

PRIME OREGON REDEVELOPMENT OPPORTUNITY – NO BUYER PREMIUM!

BIDS DUE 10 AM (PDT) TUE. AUGUST 2

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Co-Broker: Tim Stuart; Stuart Realty Group Inc.

Broker Lic. #: 990200191

Property Location:

5465 Turner Road SE, Salem, OR 97317

Suggested Opening Bid:

$7,000,000

Auction Location:

Email Sealed Bids to info@AuctionMillCreek.com

Auction Schedule:

Sealed Bids due Tuesday August 2, 2022 at 10:00 A.M. PDT.

Second Round of Bidding (at Seller’s option) to be Thursday, August 4, 2022 at 2PM PDT by telephone for up to the top 5 bidders

Preview: (PDT)

10:00 A.M. Wednesday June 15, 2022

10:00 A.M. Wednesday, June 29, 2022

Or By Appointment.

Real Estate Terms:

Bids must be emailed to info@AuctionMillCreek.com with completed Bidding Package and proof of Available Funds by Tuesday August 2, 2022 at 10:00 A.M. PDT

Second Round of Bidding (at Seller’s option) to be Thursday, August 4, 2022 at 2PM PDT by telephone for up to the top 5 bidders

Accepted High Bid –  10% non-refundable earnest money deposit due by no later than Friday, August 5, 2022 at 5:00PM PDT.

Balance due at Closing within 60 days of government approval.

NO BUYER PREMIUM.

Seller, maintains the option, to have a second round of bidding. Bidders will be required to submit with their bid a Proof of Available Funds Letter with their bid to prove they have the ability to close escrow at the price they’ve bid.

Details:

SEALED BID AUCTION

PRIME OREGON REDEVELOPMENT OPPORTUNITY

NO BUYER PREMIUM.

SUGGESTED OPENING BID $7,000,000

This 390.5± Acre site is one of the largest contiguous available parcels within the City of Salem and its Urban Growth Boundary, perfect for master-planned redevelopment into single and/or multifamily housing and potentially employment center uses as well as public health and public service zoning uses. City of Salem is receptive to rezoning the property as described. Approximately 128.42± acres of the 390.5± acres is above the 100-year flood plain with great views and is ripe for redevelopment. The remaining 262.08± acres lies within the 100-year flood plain but large portions of it could be filled to provide additional land for development. Mill Creek bisects the site from north to south, providing a scenic corridor in the property for walking trails, cycling, recreation and wildlife study. Site is close to major Salem employment centers including the State Capitol, Amazon & Home Depot Distribution, Salem Health, Willamette University, Corbin University and Portland General Electric. Approximately 1 hour South of Portland and 1 hour North of Eugene. Phase 1 Environmental Assessment and Archeological/Historical Studies have been completed.  Sealed bids can be emailed to Info@AuctionMillCreek.com and are due by Tuesday, August 2, 2022, with completed Bidding Package.

Directions:

From Interstate 5, take the Kuebler Blvd Exit 252 and go east to Turner Road SE and turn right going south. The property is 5465 Turner Road SE on your right-hand side.

 
 

Property Information Package:

In order to view this property information packet, please fill out the form below for your instant download. We will contact you if there are any updates to this document.

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