Jacksonville's Sunny Economy Bodes Well for High-bidder of New Office Condo Auction Nov. 27

Jacksonville, FL November 9, 2007- As Jacksonville, FL continues to defy trends elsewhere in the U.S. with its sunny economic future, the Tuesday, November 27 auction there of an A-plus office condo building at A1A and Atlantic Boulevard promises to put the highest bidder in the cat bird seat.

Tranzon Driggers - specialists in accelerated marketing and auction sales - is the listing broker directing the 1:00 p.m. (EST) live auction at the Neptune Beach condo site, following a Noon preview. Address is 2300 Marsh Point Road, next to the Mayport Flyover.

Currently a three-story shell in a C-2 zoned district, the professionally landscaped 25,848± sq. ft. elevator building offers 8,550± sq. ft. per floor primed for customization. Original layout calls for up to 18 suites - each with their own electric meters and private exterior balconies - and six entry ways. On-site parking for 63, plus 10 off-site spaces are added bonuses.

The building is a goldmine of an investment opportunity, according to Stephen Williams, with The Edgewater Companies and the property's co-operating broker. "It's on a main commercial artery. Retail sales or service operations based there could draw from a number of neighborhoods. The way it's zoned, it could accommodate service restaurants, professional and medical offices, galleries and studios, even radio and television broadcasting studios."

Bizjournals.com recently rated the Jacksonville area the country's 19th best job market. Current unemployment rate is less than 4% and wage and salary growth for the past five years ranked 43 out of 200 major market areas. So far, 11,000 new jobs were created in 2007. Two Asian shipping giants entering the market are expected to bring an additional 12,000 - plus jobs over the next two years, and Boeing will add hundreds to construct the new C-27J Spartan Joint Cargo Aircraft.

Respected publications such as The Economist forecast between 250,000 to 400,000 newcomers moving into the area through 2050. To date, 30,000 people relocated here this year, prompting the need for 13,600 new housing units.

"There's even better real estate news here for Jacksonville's median home price of $194,800 was actually up 2% from September 2006, mak¬ing this region the only area in Florida to see this kind of increase," said Tranzon Driggers Allan Holbrook, AARE.

According to Tranzon Driggers President Walt Driggers, "This adds up to a real bonanza for a buyer or consortium of buyers. It's simple to convert this to medical or other professional practices with a complementary mix of other retail operations benefiting from the great ground floor display space. The only reason this is up for sale now, is that the owner has some health problems and asked us, in tandem with The Edgewater Companies, to expedite a sale by using the auction process, which is becoming more in vogue. Auctions are no longer just venues for liquidating distressed properties. They're a new way of conducting real estate transactions."

Interested bidders must register in advance and are required to bring to the auction a cashier's or certified check, cash or money order payable to themselves in the amount of $50,000, plus a personal or business check. This property will be sold "as is," with settlement occurring within 30 days. Contact Tranzon Driggers' Allan Holbrook at (352) 369-1047 or aholbrook@tranzon.com or call toll-free 888.404.9977.

Tranzon Driggers is a full-service Ocala, FL real estate auction company and a member company of Tranzon, L.L.C. Visit www.tranzon.com.

SOURCE: Tranzon Driggers
Media Contact:
Liz Chuday 410-464-1100