UDOT to sell 18 surplus properties in online auction beginning July 30
Land parcels provide opportunities in growing areas; the first auction of 2020 makes bidding and investing easy amid COVID-19 concerns
Salt Lake City, UT (July 14, 2020) – The Utah Department of Transportation (UDOT) will hold 2020’s first online auction of surplus land. Participants can bid on 18 properties from July 30 through August 6 on the award-winning online auction platform created and managed by SVN Auction Services.
“The UDOT online auction is an ideal opportunity to invest in properties during the current COVID-19 restrictions,” said Louis B. Fisher, III, National Director of SVN Auction Services.
“Our online auction program affords investors the ability to continue transacting real estate, even amid the pandemic,” Fisher said. “It’s all online and everything is digital. Even the contract you sign as a buyer is done electronically, so there’s no concern about social distancing. If an interested buyer wants to make an onsite inspection before bidding, we can easily make arrangements to do that safely.”
One of the premier properties available is a 62-acre parcel in Saratoga Springs, near highways 145 and 68. While currently zoned for light manufacturing, the buyer/developer may apply for rezone to better realize the needs of the fast-growing community. With a starting bid at $3.8 million, the land is close to a number of major retail shops and restaurants, including a new Costco.
An adjacent 57-acre parcel is also being offered, with a starting bid at $3.5 million. Both of these parcels are ideal for mixed-use development and are situated in areas with rapid and dynamic economic growth.
Other offerings are in the cities of Bluffdale, West Valley City, Riverton, West Point, Highland, Levan, Herriman and South Ogden.
These auctions comply with the State of Utah’s process for the sale of surplus property. The website at www.UDOTauctions.Utah.gov provides continuous access to UDOT property information. Qualified buyers can bid from the site in real time.
UDOT’s online auction platform was the focus of a prestigious Utah Innovation Award that the department’s Right of Way division received at the UDOT Annual Conference in November 2019.
“That award was an outstanding recognition for Right of Way and a validation of the significant benefits of the UDOT online auction platform,” Fisher said. “I’ve spent the core of my 40-plus-year career serving government agencies. I can tell you that our relationship with UDOT and Right of Way exemplifies a true partnership.”
This was the first such award for the Right of Way Department. The criteria for receiving the honor included time saved, dollars saved, improved customer service and/or improved safety. SVN Auction Services and UDOT implemented the platform earlier in 2019.
For more information on the surplus land auction or the online platform, contact Fisher at [email protected].
Louis B. Fisher, III, CAI, National Director, SVN Auction Services, LLC, 954-931-0592 / [email protected]
Ken Zeszutko, Z Corp. PR / 321-213-1818 / [email protected]