ATLANTA, GA (Aug. 18, 2011) -- Bull Realty, a full-service commercial real estate brokerage firm won the assignment for the 397-acre land sale on Mustang Island (top left photo) in Corpus Christi and Port Aransas, Texas.
The property presents an interesting opportunity for a buyer to acquire prime development land at 2011 land prices. The land has been foreclosed on and is for sale at $24 million dollars, just 36 percent of a previous appraisal.
Bull’s John DeYonker and Rob Whitmire are handling the assignment in conjunction with Texas broker Harrison-Pearson Associates on behalf of a consortium of banks.
It spans across eight tracts including 4,050 feet of frontage along the Gulf of Mexico. The offering includes both beach frontage and bay frontage property. The varying beach frontage with high-density zoning gives potential buyers the ability to create multiple development concepts at varying price points.
“With over 15 million people within easy driving distance, it isn’t a matter of if, but when, Mustang Island becomes a top vacation destination along the Texas coast,” DeYonker said. “The lenders involved in this offering have priced this asset aggressively providing an incredible opportunity to control a total of over 4,000 feet of beach frontage along the Gulf of Mexico for future development.”
Bull Realty is a regional full-service commercial real estate brokerage firm with three offices headquartered in Atlanta. The firm is best known for their success selling land and commercial properties in the southeast region of the country. Bull Realty provides marketing and special asset services for 74 lender clients. The firm’s web site www.BullRealty.com has become a popular web portal for commercial real estate information.
The firm’s founder Michael Bull, CCIM is the host of the Commercial Real Estate Show, www.CREshow.com, a national talk radio show about commercial real estate.
Contact:
Christin Clay or Tony Wilbert
Wilbert News Strategies
1720 Peachtree St, Suite 1040
Atlanta, GA 30309
p 404-965-5025 | m 404-405-2354
Twitter: @christinclay10
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