Auction.com Haul for January Hits $353M
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IRVINE, CA—Auction.com hit another milestone high through its online real estate sales platform. The firm racked up $353 million in aggregate sales for the month of January, closing 62 commercial assets.
Eric Paulsen, EVP and general manager of Auction.com’s commercial division, says “At a time when we’re seeing more capital hit the marketplace and values creep toward 2007 levels in major metropolitan areas, we’re seeing an incredibly high volume of commercial sales through our platform. This is indicative of Auction.com’s continued strength and success in the post-recession marketplace.”
GlobeSt.com was unable to reach Auction.com prior to deadline to discuss any similarities the firm sees among the assets it is selling of late. Among the closings seen for the month of January are:
- The Avenues, a 338,675-square-foot multifamily complex located in Atlanta, listed by Marcus & Millichap
- A 242,212-square-foot industrial building located on North Mountain Springs Parkway in Springville, UT, listed by Newmark Grubb ACRES
- The Atrium Tower, a 106,751-square-foot office building in Orlando, listed by Marcus & Millichap
- The East Gwinnett Business Park, a 56,900-square-foot industrial complex in Loganville, GA., listed by Colliers International
- The Sugarloaf Marketplace, a 9,440-square-foot retail center in Lawrenceville, GA, listed by Lavista Associates Inc.
- The Murworth Apartments, a 10,796-square-foot multifamily complex in Houston.
Auction.com has been making news lately for other reasons. As GlobeSt.com reported last week, the firm received a $50-million investment from Google Capital. Earlier this week, president Jake Seid told GlobeSt.com, “The investment really validates our vision for using the Internet to transact real estate. We focus on making the process more transparent for the buyer, seller and broker. For Google Capital, their mission is to invest in late-stage businesses that are fundamentally transforming large markets, and we were their bet in real estate.” In addition, the firm was recently recognized by HousingWire magazine as a leading tech innovator in the US housing economy.
As a GlobeSt.com thought leader, Auction.com provides expert commentary and analysis around economic drivers impacting commercial real estate. For MORE insights and updates on upcoming online property auctions, click here.
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