Chicago-based auctioneer Sheldon Good & Co. International LLC, which will be handling the sale at the Renaissance Orlando Hotel-Airport, says the four buildings are individually valued in the $3 million to $6 million range ($13.70 to $27.41 per sf).

Roger Kellogg, president of Kellogg Development Co., "has notified us that he's willing to trade price for a time-certain date of sale," says James M. MacDonnell, managing director, Sheldon Good & Co. Auctions. Kellogg will use the sale proceeds to buy other real estate assets in an IRS-approved 1031 Exchange transaction.

"For us, this makes sense," Kellogg says. "We will know how much monies we will have to go buy something else. We will have all of it available at the same time, so we can affect a 1031 exchange." He says, "Our objective is to recycle our return in one auction venue."