SOURCE: J. P. King Auction Company

J. P. King Auction Company

October 05, 2011 14:15 ET

965 Acres of Development Land on I-65 to Sell at Auction

After Opting to Not Develop the Land Himself, David Garvin Sends Land to Auction Through J. P. King, With a Portion Selling With No Minimums and No Reserves

FRANKLIN, KY--(Marketwire - Oct 5, 2011) - At a real estate auction on October 20, Bowling Green entrepreneur David Garvin will sell 965 acres of development land, situated six miles north of the Tennessee-Kentucky border. The land, which intersects with Highway 100, will sell in six tracts, with 322 acres selling absolute with no minimums and no reserves. J. P. King Auction Company will conduct the sale.

Garvin, who pieced the property together six years ago, chose to sell the land at auction to spur development in the area. The property can be used for farmland -- portions of the acreage are currently planted with soy beans and corn -- commercial development, industrial development or residential development.

"I would like to see the land bring in potential developers who can use the farmland right now, then develop the property as the economy improves and opportunities continue to evolve for commercial uses," Garvin said. "It could be used for just about anything. It's a premier location within the city and between Bowling Green and Nashville."

Of the six tracts, the two parcels on the west side will sell absolute with no minimums and no reserves. The parcels range in size from 21 to 429 acres. Exit 6 on I-65, where the property is located, receives a daily traffic count of 42,000 and offers two and a half miles of interstate frontage, creating great visibility for any type of development.

Garvin's Development Land is zoned B-5, which is Interstate Interchange Business District and includes highway oriented services, which is ideal for restaurants, retail, hotels and gas stations. The land also has three billboard leases on I-65 that will convey with Tract 2.

The auction will take place on Thursday, October 20 at 11 a.m. at the Holiday Inn Sloan Convention Center at 1021 Wilkinson Trace in Bowling Green. An auction representative will be available on October 11 and 12 and October 17 and 18 for tours by appointment. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.

J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Florida, West Virginia, Oklahoma, California and Montana.

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