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Calling all bidders: prime city parcel hits the market

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Date:  Tuesday, June 24, 2014

Contact: Michelle Newlean, Real Estate Services disposal supervisor, 360-705-7332

WSDOT auctioning off urban view property in Renton

OLYMPIA – What would you do with 55 acres of undeveloped land in the heart of a metropolitan area? The answer will be known soon. A large, territorial-view parcel in Renton, with enough space for approximately 40 football fields, is coming to the market and will be sold to the most qualified bidder this fall.

The Washington State Department of Transportation is selling this wooded parcel of land no longer needed for highway purposes in a sealed-bid auction on Sept. 10.
 
WSDOT acquired the parcel in the late 1950s and has historically used the site as a sand and gravel pit. The parcel has access from a paved, 40-foot easement from Carr Road Southeast in the northwest corner, and a gravel access road at Wells Avenue South in the northeast corner that connects to Carr Road in Renton. To the south, the parcel is adjacent to the newly constructed Southeast 47th Street, accessible from 102nd Avenue Southeast. All public utilities are available, but may require extension and/or upgrades.
 
WSDOT is accepting bids now and has additional information on its auction website to help potential purchasers maximize their offers. The minimum, non-contingency bid amount is $12 million. All bids, mailed or delivered in person, must be received at the Real Estate Services Office by 10:45 a.m. Wednesday, Sept. 10. Bids received after the deadline will not be accepted.
 
This auction is the second of three that WSDOT will hold this year. The final auction will take place this fall and includes more than 20 WSDOT-owned parcels. Additional parcels previously offered are also available for sale on a first-come basis for the minimum bid price.

In all, WSDOT has identified 384 parcels that may be available for auction over the next several years. Since 2009, the surplus property program has generated more than $20 million in revenue for the motor vehicle fund.

The Legislature directed WSDOT to sell its surplus inventory of property. Revenue generated from the sale is used for transportation purposes. Disposing of the property also reduces WSDOT’s liability risk and costs associated with upkeep of the parcels.


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