Bidding on Port of Port Royal property ends Friday; winner to be named Monday

Bidding ends Friday at midnight in the latest attempt to sell the Port of Port Royal.

Initial bidding closed March 16 and there were multiple offers, the Department of Administration told town officials. Potential buyers then submitted final offers by Friday’s deadline.

The Department of Administration declined to say how many bids were received until the process is done.

A winning offer is expected to be awarded Monday.

The buyer then has until July 2 for due diligence, and closing is scheduled Aug. 1.

The former state port property on Battery Creek has been targeted for redevelopment since closing in 2004. State lawmakers wrested control of the sale from the S.C. Ports Authority after multiple potential deals fell through.

A Department of Administration appraisal released last November valued the 317-acre property at $6.95 million — less than half its most recent minimum bid requirement. Closed bidding began Jan. 1.

This story was originally published March 31, 2017 at 9:28 AM with the headline "Bidding on Port of Port Royal property ends Friday; winner to be named Monday."