Saturday, December 9, 2006
© Copyright 2014
Gwinnett Daily Post
LAWRENCEVILLE - One buyer spent more than $6 million for the remaining 235 acres of the Gwinnett Progress Center.
Jay Waggoner, a sales manager for John Dixon and Associates, said the two-hour auction Thursday drew about 150 people. The total sale came to $6.38 million, including the buyer's premium.
Waggoner said he would not disclose who purchased the land until the deal closed after 30 days. The sale met his price expectations, he said.
The industrial complex was owned by an investment group that Waggoner said was disbanding and ready to be done with the land. He called the auction of so many acres in a prime location a rare opportunity. The Progress Center is located off Ga. Highway 316 across the street from the county airport.
The land was auctioned in 17 tracts. One of those tracts is zoned commercial, while the rest are industrial.