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Real Estate - Commercial

Former John S. Clark Office Condo Unit Heads To Auction

By J. Elias O'Neal, posted Mar 12, 2014
An office condo in the above building goes to auction April 3. (Contributed photo)
A former general contracting firm that closed its Wilmington office during the Great Recession has placed its Wilmington office on the auction block.
 
Atlanta-based Auction Management Corporation – an on-site and online real estate auction firm – recently posted an online notice to sell Mount Airy-based John S. Clark Company LLC’s former 4,700-square-foot Wilmington office condo unit at 1721 Allens Lane, Suite 210.
 
Prospective buyers can view the property prior to the auction from noon to 2 p.m. on March 20 and March 27, the notice stated.
 
Off-site bidding on the condo space begins at 11 a.m. April 3 at the Blockade Runner Beach Resort, 275 Wayland Blvd. in Wrightsville Beach, the notice stated. Buyers can also bid online on the office condo starting at 11 a.m.
 
According to the notice, the buyer has 45 days to close on the building once his or her bid has been accepted during the auction. As part of the auction, the current owner is not obligated to improve the property once it’s purchased.
 
The class-A office space includes 10 offices and four administrative areas, a reception area, break room, conference room and private bathrooms, the notice stated. The future user can also subdivide or fully-occupy the space.
 
John S. Clark Company closed its Wilmington division in December 2012.
 
The firm completed a variety of construction work for industrial, commercial, multi-family, retail, health sciences, technology and church users, including the 85,000-square-foot Teaching Laboratory Building at University of North Carolina Wilmington in August 2012.
 
To learn more about the auction, click here.
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