Auction.com Closes $65M Week

IRVINE, CA-Auction.com closed 20 commercial assets in 11 states during the week ending September 6. The sales had a combined total value of more than $65 million.

Among the assets sold were:

• Mountain Village Plaza, a 90,804-square-foot retail center in Chino, CA
• Park Forest on Parmer Ln., a 58,424-square-foot office building in Austin, TX
• El Toro Square, a 49,269-square-foot retail center in Lake Forest, CA
• Otis Elevator Building, a 328,260-square-foot industrial building in Hatfield Twp., PA
• Savers Plaza, a 93,234-square-foot retail center in Phoenix
• Best Buy, a 45,440-square-foot store in East Lake Sammamish Shopping Center in Issaquah, WA

All of the above, except for the Best Buy transaction, were listed by Rockwood Real Estate Advisors; the Best Buy transaction was listed by Capital Pacific.

Strong sales through auction are becoming more common from Auction.com. As GlobeSt.com reported earlier this month, the website facilitated the closing of 26 commercial assets in 15 states during the week ending August 16. The combined sales added up to more than $47 million in total purchase price, including seven commercial notes totaling more than $22 million in value.

Also, as GlobeSt.com reported earlier this week, the single-family housing sector is showing signs of improvement, while the multifamily sector seems to be slowing, according to Auction.com Research. The firm's senior principal and economist Peter Muoio, Ph.D., reports that the Census Bureau's August housing starts data shows that multifamily starts decreased from July, while single-family starts have remained steady since 2009.