SPRINGFIELD — Most of Nextedge Applied Research and Industrial Park goes to auction this week after the Turner Foundation halted financial backing.

Seven developed lots and 162 undeveloped acres on East National Road will be on sale starting Tuesday, according to the website Auction.com. Bidding starts at $1.2 million.

Tom Franzen, Springfield director of economic development, said the city has partnered with Nextedge to try to develop the land since construction began.

But Nextedge property “came on the market about 5 or 6 years ago, and we had about 1 year to sell it and then 3 or 4 years in recession,” said Tom Loftis of the Nextedge board of directors. “And there’s been nobody buying or building into these parks.”

While Nextedge handled the park, Loftis said the Turner Foundation provided all the financing. But after years of no development and having to deal with a mortgage, real estate taxes and upkeep, the foundation backed out this summer. Calls to the Turner Foundation were not returned.

Loftis said once the foundation left, Nextedge had no cash assets and had to turn the property over to Fifth Third Bank. Now, Nextedge has no direct involvement with the land and the sale of it.