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AmeriBid LLC to Conduct Auction of Two Prime Retail Pad Sites Located Near San Antonio Airport

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SAN ANTONIO, Texas, Sept. 17, 2013 (GLOBE NEWSWIRE) -- AmeriBid LLC (www.ameribid.com) announces the auction of two prime retail pad sites in the Concourse 410 Retail Center. "This is a fantastic opportunity to own the last two remaining pad sites at the Concourse 410 Retail Center, just 1 mile from the San Antonio Airport with frontage off of US 281 near Loop 410," states Travis Kaddatz, Regional Director, Auctioneer and Agent for AmeriBid.

The auction will take place on Tuesday, October 8th, 2013 at 2:00pm CDT at 815 E. Rector St., Concourse 410 Shopping Center, Suite 105, San Antonio, TX 78216.

Both sites are located on the southbound N US 281 Feeder Rd., feature high visibility from all directions (I-410 & US 281) and have easy access to major roads. Adjacent to Concourse 410 are a Wal-Mart Super Store and La Quinta Airport Hotel. The former Target store site was recently acquired and is slated for redevelopment with a number of junior anchors and smaller in-line tenants with completion planned for early 2014.

The north retail pad is located between Halm Blvd and E. Rector Street. It is triangular in shape and sits in front of the La Quinta Inn, Specs Liquors and other tenants. The 1.473+/- acre site is accessible from US 281 (McAllister Freeway) Feeder Rd.

The south retail pad is 1.78+/- acres and rectangular in shape. It is located on the south side of E. Rector St., north of Whataburger and in front of TJ Maxx, Skechers Outlet, Sears Outlet Center, and the former Target facility. There is a Clear Channel billboard on this site at 880 E. Rector St. that conveys with the purchase of the property. It currently brings in a minimum income of $6,000 per year and is under lease until August 31, 2023.

"These pads offer an excellent opportunity for users and/or developers to participate in the growth and redevelopment of this major San Antonio submarket," elaborates Paul A. Lynn, CCIM, Regional Director and Broker for AmeriBid.

The property is to be sold to the high bidder over a Minimum Bid Price of $720,000 ($5.00+/- per sf). 7% Buyers Premium applies. 2% Broker participation is offered, subject to Auction Company Broker Registration Form and guidelines therein. Inspect the property at your leisure. To receive more details and complete terms, please visit www.ameribid.com or contact Chris Vaughan directly at 858.382.6030 (chrisvaughan@ameribid.com).

About AmeriBid

Headquartered in Tulsa, OK, AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies. To be notified of future auctions, sign up for email alerts here.

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Source: AmeriBid