NEWPORT BEACH, CA– LFC Online, an Internet real estate auction marketing firm and part of the LFC Group of Companies, has announced that it will auction over 22 acres of prime development property located on the Fort Morgan Peninsula, in Gulf Shores, Alabama.The 22.5-acre parcel of residential development land, just north of Highway 180, is zoned R1-FM/PUD and is a proposed 45-lot subdivision. The unparalleled location of the property, along the Bon Secour Bay, lends itself to unbelievable development potential, especially with the pending permit for 46 boat slips, allowing 270 feet of exclusive shoreline access.
The property neighbors the premier Peninsula Golf and Racquet Club, which was designed by Alabama’s own renowned architect Earl Stone and is owned by Honours Golf, the leading golf course management and development company in the Southeastern United States.
Gulf Shores, Alabama, located in Baldwin County along the Gulf of Mexico near the Florida Panhandle and an hour drive from Mobile, is a stunning location to own a vacation home or live year-round. With its mild climate, signature golf courses, picturesque beaches, relaxed atmosphere and enchanting local charm, Gulf Shores is quickly becoming one of America’s top vacation destinations, especially for golfers. In addition, Baldwin is one of the top three fastest growing counties in Alabama, experiencing one of the largest real estate development efforts in the region. In fact, a recent article on CNNMoney.com named Mobile to be one of the few “up markets” in the country, as a major metro area experiencing significant price appreciation, due to a current boom of new development projects.
“Auctions are always a marketing vehicle that will focus attention on a particular property, but an online auction, in particular, will give this property global attention,” comments Bill Lange, President of the LFC Group of Companies. “Given the potential of this coastal property, I expect this auction will be a catalyst to reignite development in the Gulf Shores area.”
“Despite the declining real estate market, interest in the Gulf Shores and Baldwin County area has began to pick up again,” says Allan Cameron, a local broker for Peebles & Cameron, a Mobile-based Grubb & Ellis affiliate. “The potential for this property is phenomenal! The buyer could build a premier residential community or even a grand estate. The pending permit for the 46 boat slips and highly desirable bay frontage make this parcel even more valuable and appealing.”
Aside from world-class golf, the Gulf Shores area offers hundreds of acres of wildlife and nature preserves, a variety of restaurants and shopping, as well as recreational activities like deep sea fishing, sun-bathing and strolling along the white sands of the Gulf of Mexico. Additionally, for history enthusiasts, there are several historic sites, most notably Fort Morgan, a key battleground during the Civil War.
The bid deadline is February 14, 2008, and prospective buyers and interested parties are encouraged to visit www.LFC.com/707R2 to review more information about the property and register to bid in the online auction.
LFC Group of Companies
For over 30 years, the LFC Group of Companies have served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. www.LFC.com