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Two Penthouse Units at Lonestar Tower Sell at Absolute Auction Through J. P. King Auction Company

Two penthouse units at the Lonestar Tower, overlooking the Texas Motor Speedway, sold at auction on Thursday for just under $1 million Click here for high-resolution version

FT. WORTH, TX--(Marketwire - Dec 7, 2012) - At a real estate auction event yesterday, 30 individuals and 14 bidders gathered to compete for two penthouse units atop the Lonestar Tower that overlooks the Texas Motor Speedway. After half an hour of bidding, the two properties sold for a combined $995,500.

Harvey and Laura Earles of Ft. Worth purchased the corner unit, which sold furnished and includes several memorabilia pieces, for $522,500 while the unfurnished unit went to Michael and Mickala Sisk of Colleyville, Texas for $473,000. The Sisks were represented by Keith Beasley with Beasley Realty in Euless, Texas as a part of J. P. King's buyer's broker program. With over 5,000 website hits and 18 parties participating in the property's due diligence, the resulting bidders registered from Texas and Washington.

Each unit featured two bedrooms, two bathrooms and floor-to-ceiling windows that overlook Turn 2 of the Motor Speedway, as well as a spiral staircase with rooftop access and views of the track and grandstands.

"We held an exciting auction with enthusiastic bidders for our sellers today," said Craig King, president and CEO of J. P. King Auction Company. "Today's event is another example of how effective the absolute auction method is. Our bidders came to purchase a unit on the Texas Motor Speedway at a great deal, and they left with a price both they and the sellers were pleased with."

About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with upcoming auctions in Wichita, Kansas, where it will sell an 1880s-era mansion and Venice, Florida, where a mansion on 100 acres will be offered at auction.

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