buyers bid more than $5M on Wye properties

By Sara Schilling sara@tcjournal.biz

The potential transformation of the Richland Wye is a step closer to reality after a pair of land auctions yielded 11 buyers who bid more than $5 million for property left behind by the late Jerry Sleater.

Another auction for two remaining parcels in Sleater’s Wye portfolio is expected to happen in the next couple of months.

“We had really good participation (the first two days),” said auctioneer Scott Musser, chief executive officer of Musser Bros., who’s working with Derrick Stricker of Stricker CRE on the Wye auction.

“Buyers are seeing the vision,” Musser said. “For me as a longtime resident, I’ve seen a lot of changes and transformations. I think we’re about to see an abrupt transition in the Richland Wye that’s unprecedented in the Tri-Cities.”

During the first two days of auction in early March, 16 parcels sold to 11 buyers for more than $5 million total. The names of the buyers aren’t public until the sales close, Musser said.