IRVINE, CA-Auction.com has facilitated the closing of eight commercial assets in seven states during a time period of slightly less than three weeks. The firm closed sales totaling more than $82.7 million in purchase price between November 20 and December 9.
“This is another sign of steady growth in our sales volume at a time when the market is exhibiting strong signs of recovery,” says Eric Paulsen, EVP, general manager, commercial division, at Auction.com. “These results further underscore the effectiveness of the Auction.com platform for selling both distressed and non-distressed commercial assets.”
The Auction.com online platform offers completed transparency to the large pool of bidders it attracts from around the world. In turn, the competition among qualified buyers ensures that sellers’ assets are transacted at fair market value, according to the firm.
Notable closings during the time period listed above include:
- Pine Ridge Mall, a 526,801-square-foot retail center located in Chubbuck, ID, listed by Rockwood Real Estate Advisors;
- A 291,713-square-foot office building located at 35 Nutmeg Dr. in Trumbull, CT, listed by Marcus & Millichap;
- a 32,049-square-foot mixed-use building located at 246 Fifth Ave. in New York, listed by NGKF Capital Markets;
- Princeton Square Apartments, a 288-8nit complex located in Jacksonville, FL, listed by HFF LP;
- The Hampton Inn Okeechobee, an 85-key hotel located in Okeechobee, FL, listed by Rockwood Real Estate Advisors;
- The Holiday Inn Express & Suites Birmingham, a 96-key hotel located in Birmingham, AL, listed by Rockwood Real Estate Advisors;
- The Stratford at the Cascades, a 61-unit apartment complex located in Tyler, TX, listed by Rockwood Real Estate Advisors
- Estancia Apartment Homes, on which GlobeSt.com reported earlier this week.
Individual sales prices for each of these properties were not disclosed to GlobeSt.com.