The property that Squid Lips in Sebastian is leasing will go up for auction after the property owners defaulted on their mortgage for almost $6 million dollars.
“It’s a foreclosure sale for non-payment,” Buzz Underill told Sebastian Daily.
The property extends to the marina, which is next door to Squid Lips.
Underill, of Underill Property Management that owns Squid Lips, said the auction will not affect the Sebastian restaurant. The auction is only for the real estate.
“Squid Lips has a 15-year lease on the property,” Underill said.
According to the auction, the final judgment amount is $5,951,127.20. The auction will take place on February 4, 2020, at 10:00 a.m.