According to Loopynet, three sizeable downtown properties are up for grabs, and I have questions.
The first is 140 Court Street, a 93-unit former timeshare property which the listing states closed in May, 2025. Coincidentally or not, the last user-review for the property on Trip Advisor was in May 2025. Does that mean it's vacant? Does anyone know? If the property sells what happens to the timeshare ownerships? Do they just poof away? Can the new owner foreclosue on the Timeshares? Were they made null when it closed in May 2025? I think this property being converted into 93 apartments would be a good thing for downtown. It includes a pool! The price tag is $6,000,000.
The second large property for sale is the Plaza Resort Club, located at 121 West Street adjacent to Riverwalk Tower, also previously a timeshare, converted into a standard hotel a few years back. Perhaps this property being a former timeshare can provide some clues as to how 140 Court Street would work if it were sold. The Plaza Resort is a fully functional hotel with a pool, on-site bar, business center and more.
The third property is the Walgreens downtown, at 750 North Virginia Street. This one is equally as confusing to me, as to what you are actually buying if you buy this. It seems like NDOT owns the 'land' which is really just a big ole' bridge over the freeway. So are you buying the building and leasing the land from NDOT? or? It looks liek Walgreens has the right to terminate its lease on specific dates in the future, 8/31/2027, 8/31/2032, 8/31/2037, 8/31/2042, 8/31/2047, 8/31/2052, 8/31/2057, 8/31/2062. That's a long-ass lease!