One Myrtle Beach area offering is trying a new marketing strategy

sjones@thesunnews.comApril 4, 2014 

Coldwell Banker Commercial Chicora Realty is taking an unusual marketing strategy for the 529.87 acres between S.C. 9 and U.S. 17 it has listed for sale.

No price is being advertised.

The property includes the former Bay Tree Golf Resort, and is being called Rivergrand in the sale.

It is a bank-owned multi-use development with in-place entitlements for 1,775 residential units and 600,000 square feet of commercial and office space. The residential units include 900 single-family homes, 600 multi-family and 275 units in a retirement community.

A new owner should be able to adapt the plan to their own preferences, according to Coldwell Banker Chicora.

Don Smith, president of Coldwell Banker Chicora, could not be reached for comment Friday.

But Laura Crowther, CEO of the Coastal Carolinas Association of Realtors, said Wells Fargo Bank has used the same strategy on properties it has sold in North Carolina.

The idea is to let the market determine the price, she said.

“It’s a different approach,” she said. “Not to say that it’s a bad one.”

Contact STEVE JONES at 444-1765.

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