FRANKLIN
The old St. Regis property, 1101 Armory Drive, was sold Friday at an on-site auction conducted by Atlantic Asset Management Group, Inc. It was an absolute auction ordered by the trustee.

The Bank of Hampton Roads, trustee of the property, ordered the auction. The terms of the sale were cash or cash equivalent and a 10 percent buyers fee was due the day of sale with the rest due 15 days after.

Three bidders showed up to bid on the property. Blake Blythe of Franklin ultimately bid the highest, buying the 16-acre lot for $395,000.

What Blythe’s plans are for the property are unknown at this time. More information on the sale and future for the site will be reported as they become available.