Brightwood land auction fails to find buyer
Source: The Sandy Post, by Garth Guibord
August 30, 2007
Realty Marketing Northwest (RMNW) received no acceptable bids in an auction of 82 acres in Brightwood between Highway 26 and Brightwood Loop Road. RMNW remains in discussion with several parties that remain interested in the land or portions of it.
“The credit market has made it difficult for people to buy property on an all-cash basis,” said John Rosenthal, president and principal broker for RMNW.
The deadline for bids was Wednesday, Aug. 22 and the winning bidder was expected to pay in cash with a Sept. 30 closing date. The published reserve price for the land was $4.2 million. Rosenthal noted that RMNW sent 30 bid packages, but he would not comment on how many bids were received.
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