The old Walmart property located at the Holly Springs Plaza was sold to the highest bidder last week.
“There were eight groups registered and approved for bidding,” said Sam Young, president of DTZ, the firm who handled the online auction. “All eight bidders were bidding early in the process, but once a certain price was hit, it narrowed down to three bidders for several rounds.”
Young noted that the final two bidders went back and forth for several rounds, causing the auction to exceed pricing expectations. Young could not yet confirm who won the winning bid, but noted that the information will be public once the deed is recorded. The starting bid on the 155,000 square foot property was set at $750,000. After the auction ended, the purchaser had two hours to submit the signed purchase contract, and closing is expected to occur 30 to 45 days from the auction end.