The second auction of Shallowbag Bay Club Marina in Manteo won't be the same as the first one, when the buyer eventually defaulted.
The Virginian-Pilot of Norfolk, Va., reported that Tranzon Fox will sell the assets piecemeal rather than selling the whole marina. Thirty-five slips, ranging from 25 to 60 feet, will be sold starting at 4 p.m. Friday. Tranzon says slips will be sold, regardless of price.
The Ship's Store, including a retail store, fuel pumps, office and communications tower, will be auctioned separately at 4:30 p.m.
Tranzon first auctioned the 73-slip marina in October 2006 for more than $2 million to the Vinings Marine Group LLC. Tranzon says Atlanta-based Vinings defaulted because of the recession.
Shallowbag Bay Club is located on the Roanoke Sound.
Copyright 2014 by The Associated Press. All Rights Reserved.
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