The Simpson County Development District has received bids on properties located in the development park which home to Love’s Truck Stop.
Bids were submitted to the Simpson County Development Foundation and were opened on September 15. There was one bidder on both parcels of property, Carrol Berry. Berry owns the property which was referred to as the Spec Building. With the acquisition of the new property, Berry would own most of the property south of Love’s Truck Stop.
The real estate transaction was set to close one month after approval of the bid.
The smaller parcel of land, which fronts Highway 49, is 4.46 acres. It joins the shopping center where Freds is located and had a minimum bid of $334,500. The bid price was $382,000.
The second parcel, which is 11.12 acres and east of the spec building property, had a minimum bid price of $278,000. The accepted offer was $379,000.
The proceeds of the sale of land will go into Simpson County Development District. The Simpson County Development Foundation is exploring options for land for new development opportunities.
Checks were submitted in the amount of 10 percent of the bid price to be used as earnest money and will be applied to the purchase price of the property.
