SVN/GILMORE SELLS 195 ACRES ON I-49 FOR $660,000 IN COURT ORDERED PARTITION AUCTION

Opelousas, LA (Aug 16, 2013)-Sperry Van Ness/Gilmore Auction & Realty announces the successful auction of 195 acres located on I-49 at Harry Guilbeau Road in Opelousas, Louisiana. The Partition Auction was conducted under court order from the 27th JDC for St. Landry Parish. The event was held at the Holiday Inn-Opelousas on Friday August 16th, 2013. The property was offered with no minimum or reserve, selling to the highest bidder.

The property featured 3400 feet of frontage on the I-49 North Service Road at the intersection of Harry Guilbeau Road and had approximately 130 usable acres cleared and wooded.

Twelve bidders registered on auction day in order to compete for the asset. The bidding started at $300,000 and quickly increased to the winning bid of $600,000 plus the buyer’s premium for a total purchase price of $660,000.

“The market for development land along interstate corridors is certainly improving as we spoke with interested prospects from Texas, South Carolina, Pennsylvania and Louisiana”, said David E. Gilmore, CCIM, SVN/Gilmore Managing Partner and Auctioneer, “This was a win-win for both buyer and seller”.

Sperry Van Ness/Gilmore Auction & Realty is the Louisiana franchise office of Sperry Van Ness International, one of the largest and fastest growing commercial real estate brokerage firms in the industry, with more than 1000 advisors in over 150 locations in the United States. Sperry Van Ness delivers results for clients through a proven business model that provides advance marketing, technology tools and fee sharing. Sperry Van Ness/Gilmore Auction team members have more than 100 years of experience in planning, orchestrating and conducting successful accelerated marketing engagements throughout the United States.

For more information contact:

David E. Gilmore, Managing Partner

Sperry Van Ness/Gilmore Auction & Realty Co.

504-468-6800