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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe retail portion of the Villaggio at Page Pointe on Virginia Avenue sold for $693,000 at a Thursday afternoon auction, according to Key Auctioneers.
The seven units totaling 14,500 square feet hit the auction block to help satisfy a loan default on the property totaling $5.2 million.
Tenants include Body Works Day Spa, Ember Urban Eatery, Fitness Now and Midwest Oral Health.
The lender on the project, First Horizon Home Loans, filed in August in Marion Superior Court to foreclose on the property. The bank claimed in its suit that Page Pointe Development owed the balance of nearly $5.2 million on the $11.6 million loan.
Page Pointe Development received the loan for the 9-story, 64-unit building at the entrance of the thriving Fletcher Place neighborhood in February 2008. It opened in April 2010.
Key Auctioneers conducted the sale. It drew 18 registered bidders.
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