Sequim Gazette staff
No “acceptable” bids came in for a 5.44-acre development west of IHOP and Walmart following a sealed auction ending on May 16, according to John Rosenthal, president of Realty Marketing/Northwest of Portland, Ore., and Sammamish.
The commercial property was a planned 121-unit independent and assisted senior living facility by Sunwest Management Inc., a failed Salem, Ore.-based senior housing provider.
The reserve price was $337,500, which remains the same unsold. The property previously was listed for $399,000 and this was its first time at auction.
Sunwest’s developments were sold and WPH Properties of Salem, a company set up to sell assets of Sunwest, has listed the Sequim property for at least 18 months. Realty Marketing is auctioning off those assets.
Rosenthal said they have seen interest in the property post-auction. Realty Marketing/Northwest sent out 1,400 catalogues with 82 properties listed for auction, including the Sequim property, in April.
“We have about 45 percent of all properties in escrow. Have post-auction interest and other sites in Washington and California,” Rosenthal said.
On its website, www.rmnw-auctions.com/table-of-properties, 32 properties are listed as sold. The Sequim property lies within the city limits and is zoned C-III, General Commercial.
Possible uses for the property are banks, churches, convenience stores, retail, restaurants, private schools, theaters excluding drive-in theaters, and vehicle repair and service.
Conditional uses apply to items such as bars and espresso stands, and special uses apply to items like parks and playgrounds.