RIVERBANK -- An online auction has started for 34 acres of vacant land around the former Riverbank Army Ammunition Plant. The Army's "suggested opening bid" is $1.675 million, but it's still waiting for the first offer.
Tours of the four parcels will be offered from 10 a.m. to 1 p.m. today at the site, 5300 Claus Road. Representatives from the Army and the U.S. General Services Administration will be available to answer questions today and from 10 a.m. to 1 p.m. Sept. 29.
The 173 acres, which included 191 structures, are pretty much vacant now. The city of Riverbank took over the remaining buildings and most of the land in April, and hopes to turn it into an industrial park.
But the Army decided to sell the undeveloped land north and south of the buildings. The Army had those vacant parcels appraised, but details from that assessment are being kept secret, said Angela LaMonica, who is overseeing the sale on behalf of the General Services Administration. Those appraisals are higher than what the government suggests as opening bids.
While the government wants market value, LaMonica said, it might accept lower bids if that's all it gets.
The auction's closing date hasn't been set, but bidding is expected to be open at least one month. Anyone who registers will be given at least three days' notice before bidding closes.
What's up for bid:
• Parcel 1 -- About 8 acres fronting Claribel, potentially usable for offices or research and development space. Suggested opening bid is $225,000, with a $50,000 deposit required to bid, plus an additional $50,000 line of credit.
• Parcel 1A -- About 4 acres at Claus and Claribel roads, potentially usable for retail. Opening bid: $275,000, with a $50,000 deposit and $50,000 line of credit required.
• Parcel 2 -- About 19 acres fronting Claus Road, listed as having potential industrial usage. Opening bid is $900,000, with a $100,000 deposit and $75,000 line of credit.
• Parcel 2A -- About 3 acres fronting Claus, potentially for retail. Opening bid: $275,000, $50,000 deposit and $50,000 line of credit required.
All sales will be "as is" and only all-cash offers will be accepted.
The government will include a hazardous substance covenant with the deeds that assure all remedial action necessary to protect human health and the environment has been completed and that the government will take additional remedial action if necessary.