The Municipal Revenue Collection Center (known as CRIM for its initials in Spanish) will hold a public auction to sell the industrial facilities formerly occupied by Intel in Puerto Rico.
Local firm Centro Casas is in charge of the auction that will take place next Nov. 21, at 3 p.m. on the grounds of the property. The property for sale is located in the Las Piedras Industrial Park in the Montones Sector of Las Piedras.
With an IL-1 zoning, the property comprises 67 acres of land, 400,000 square feet of construction and 2,500 parking spaces.
“Once the Intel plant on the island, it is an ideal property for a light industrial operation and is ready to accommodate a diverse manufacturing operation capable of scaling up,” the auction description stated.
The multinational company Intel left the plant in mid-2001, but other institutions have used the property since then. The property is available for inspection. For an appointment and more details about the auction, call 787-287-0100 or email at email@example.com.
The CRIM has been authorized since 1991 to seize and auction properties to collect delinquent debts, holding its first public auction this year. Through this mechanism, the public corporation seeks to increase its revenues and recoup some of the $1.2 billion in tax debt owed on both residential, commercial and industrial real estate.
The auction of the Intel property is one of 10 auctions the CRIM plans to carry out this fiscal year. In recent months, the CRIM has successfully closed other public auctions of residential and commercial properties around the island.