The undeveloped portions of the Westpark Corporate Center in Spotsylvania County are now owned by the project's lender.

A brief foreclosure auction was held Monday afternoon outside Spotsylvania Circuit Court for the undeveloped portions of the office complex, which is off State Route 3 on Maple Grove Drive behind Gander Mountain and Bed Bath & Beyond.

About a dozen people attended the auction, but none bid after an attorney representing lender Cardinal Bank submitted an opening offer of $2.7 million. That means the bank now officially takes ownership of the undeveloped portions of Westpark. One potential bidder said he thought the bank's bid was for more than the property is worth.

Development on Westpark started in the mid-2000s, and there are now three buildings each with about 20,000 square feet. A planned fourth building with about 39,000 square feet has not been built at the complex, and much of the developed space remains vacant.

Much of the developed space, including one of the buildings in its entirety, has also been sold to investors and businesses that have located in the office complex. The foreclosure auction did not affect that space.

Monday's auction included about 6,500 square feet in one of the buildings, one entire 20,000-square-foot building and the land for the fourth building.

Bill Freehling: 540/374-5405
Email: bfreehling@freelancestar.com