CBRE Auction announces 49 acre online auction
CROYDON, PA —CBRE Auction Services announced that a land site in Croydon, PA totaling approximately 49 acres will be sold at online auction. The property is located in Bucks County at 2301 Bristol Pike, Croydon. The online auction will be held on Wednesday, March 18, 2015. The property will be sold at or above $350,000, according to Douglas Johnson, managing director of CBRE Auction Services.
“This is a unique investment opportunity with convenient access to the Philadelphia, Trenton and Burlington markets and workforce.” said Johnson. “This excellent development or investment opportunity is positioned in an area home to residential, multi-housing, industrial, restaurants and recreational activities.”
Neshaminy State Park, a 339-acre park with boating access to the Delaware River is located just two miles south of the property. The area directly surrounding the property to the north and west is residential in nature, comprising mostly of older modest and lower income single family homes.
“The estate has decided the best way to liquidate this asset is through the auction process and have demonstrated their commitment to the sale with the low minimum bid they have established,” said Patrick Connell, managing director, CBRE Auction Services.
The online auction will be held on March 18, 2015. An initial earnest money deposit of $25,000 is required in order to participate. Property inspections will be held on February 25th and
March 4th by appointment only. CBRE representatives will be available to answer questions about the auction process, procedures, as well as the property. Detailed property information will also be available for review including the purchase and sale agreement. For this, and other information about the auction, including the terms and conditions of the auction and a brochure, prospective bidders should visit www.cbre.com/auctionservices, or call CBRE Auction Services at 800-815- 1038.