Auction.com Hits $262M in July Transactions

ThoughtLeadership|&utm_term=|eNewsletter-Editorial-NAT(eNewsletter)|"> Auction.com hit another record month in transactions during July, closing 79 commercial-asset deals across the country with a combined sales value of more than $262 million. The properties sold represented a variety of property sectors within the commercial real estate realm.

Notable asset sales included:

• Schirm Farm Apartments, a 264-unit multifamily property in Canal Winchester, OH
• Roseville Corporate Center, a 231,685-square-foot office property in Roseville, MN
• Radisson Hotel Branson, a 472-key, full-service hotel in Branson, MO
• Renaissance West Retail Center, a 169,231-square-foot retail center on more than 16 acres in Las Vegas
• Canton Road Distribution Center, a 140,800-square-foot industrial property in Marietta, GA

According to the firm's recent Q2 CRE Market Monitor report, all major sectors of commercial real estate have improved in terms of overall transaction volume, which is consistent with the volume of commercial sales through the Auction.com platform. “As the commercial real estate market continues to experience healthy growth across all sectors, we're seeing transaction volume trend upwards,” says Rick Sharga, EVP of Auction.com. “We're also noticing an increase in sales prices within the market as investors continue to take advantage of the current low-interest-rate environment to grow their property portfolios.”

Auction.com continues to expand its capabilities by adding experienced executives to its staff and board of directors. As GlobeSt.com reported last week, Kevin Johnson, retired Juniper Networks CEO and former Microsoft executive, has joined the firm's board of directors. Johnson is the latest high-profile addition to the firm's board, joining ex-Oracle and DoubleClick CFO and current managing partner at Bessemer Venture Partners Jeff Epstein.