Auction.com Solidifies Non-Distressed Position

IRVINE, CA—Further establishing itself as a vehicle for selling non-distressed assets, Auction.com has sold yet another one. The Pompano Merchandise Mart in Pompano Beach, FL, was sold on behalf of Pompano Lincoln Industrial to what GlobeSt.com has learned is a Boca Raton-based private investor. The property sold for $9 million during a three-day auction that concluded on Feb. 26; the deal closed March 28.

The asset, located at 2099 and 2101 W. Atlantic Blvd., is the latest in a growing volume of non-distressed commercial assets being sold by properties’ natural holders on the Auction.com platform. According to Michael Jimenez, VP of Auction.com, “This deal marks Auction.com’s growth n the South Florida marketplace for stabilized, non-special servicer deals. We expect our sales in the region to increase as demand, occupancy and rents continue to recover.”