The Morning Report
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The deadline for purchase bids on the former Poway corporate headquarters of contractor Brent Wilkes’ businesses was today at 5:00 p.m.
Colliers International is handling the sale on behalf of Ironwood 12 LLC, which made a $3 million payment toward purchasing the property from Wilkes’ company, Al Dust Properties LLC, on Jan. 30. According to a recent auction notice, Wilkes was $12.1 million in debt on the property. Originally scheduled for Feb. 1, the auction was postponed to March 29.
John Gross of Colliers declined to share details of the bid process and wouldn’t say if any bids came in today. He said there was no minimum bid, and that the property would be awarded to the highest bidder.
Dave Butler in the County Assessor’s Office said the property had been listed since January 2006 on a commercial real estate equivalent of the Multiple Listing Service with an asking price of $26 million.
The agent listed with the California Secretary of State filing for Ironwood 12 is Paul Smithers, Wilkes’ former corporate attorney. In an e-mail today, Smithers said he is the attorney for Ironwood 12 LLC but that he has no ownership interest in the LLC or in the Stowe Drive property.