Central North Port properties up for bankruptcy auction

One of North Port's most important future development sites is on the auction block that's set to close June 23.

As part of a Chapter 11 filing, North Port developer Frank Menke has contracted with NAI Manasota for a closed-bid auction to sell 300 acres in the center of North Port. Menke is doing the auction in his role as debtor in possession, and any income from the sale will go to settle its existing mortgage debt.

The property includes three large groupings of land on the southeast, southwest and northwest corners of Toledo Blade and Price boulevards. It covers 15 vacant developable parcels located in one of North Port's “activity centers,” areas where the city comprehensive plan encourages non-residential development. North American Development Group has already developed the front portion of the southwest corner into the Publix-anchored shopping center, Shoppes at Price Crossing.