FDIC auction to sell former banks, land, commercial properties in 10 states

More than $40 million in commercial assets, including former banks and vacant land, will be sold next month in a multistate auction to dispose of Federal Deposit Insurance Corp. assets. The Dec. 10-15 auction will include properties in California, Florida, Georgia, Illinois, Minnesota, Missouri, Nevada, North Carolina, Texas and Washington state. Many of the properties are former banks or commercial properties that once housed banks. Kennedy Wilson Auction Group was retained by Prescient Asset Management to conduct the FDIC auction. Kennedy Wilson said properties can be purchased individually or in bulk. They include a 12,500-square-foot, two-story former bank in Lawrenceville, Ga. (minimum bid of $500,000) and a former one-story bank with 88,513 square feet in Irondale, Ala. (minimum bid of $850,000). Land parcels include several parcels of raw land in the Atlanta area and elsewhere, including a 28-acre tract in southwest Atlanta zoned for residential or agricultural uses. Several retail and industrial locations are included in the auction. Brokers are also welcome to participate. Live auctions will be held Dec. 10 in Atlanta; Dec. 11 in Orlando, Fla.; Dec 13 in Chicago; and Dec. 15 in Las Vegas. Write to Kerry Curry.