SOURCE: Auction.com

Auction.com

September 09, 2014 12:00 ET

Auction.com Closes 79 Commercial Transactions in July With a Total Purchase Price of $262 Million

IRVINE, CA--(Marketwired - September 09, 2014) - Auction.com, LLC, the nation's leading online real estate marketplace, facilitated the closing of 79 commercial assets with a combined sales value of more than $262 million during the month of July.

As shown in 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," said Rick Sharga, executive vice president 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."

The Auction.com online platform offers complete 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. Auction.com also enables buyers and sellers to conduct transactions in a more efficient manner than previously possible by leveraging internet technology to streamline what has traditionally been a cumbersome, complicated and paperwork-intense process.

Notable closings in July include:

  • Schirm Farm Apartments, a 264-unit multifamily property located in Canal Winchester, Ohio, was auctioned on June 19. The sale closed on July 18.
  • Roseville Corporate Center, a 231,685-square-foot office property located in Roseville, Minnesota, was auctioned on May 21. The sale closed on July 1.
  • Radisson Hotel Branson, a 472-key, full service hotel located in Branson, Missouri, was auctioned on June 19. The sale closed on July 31.
  • Renaissance West Retail Center, a 169,231-square-foot retail center on more than 16 acres located in Las Vegas, was auctioned on June 19. The sale closed on July 18.
  • Canton Road Distribution Center, a 140,800-square-foot industrial property located in Marietta, Georgia, was auctioned June 18. The sale closed on July 18.

To learn more about buying and selling commercial assets on Auction.com, please contact Joseph Cuomo, senior vice president and director of business development at jcuomo@auction.com or 305.503.2637.

Auction.com, LLC, is the nation's leading online real estate marketplace. Founded in 2007, the company has sold over $26 billion in residential and commercial real estate assets. Auction.com has over 900 employees and headquarters in Irvine and Silicon Valley, California as well as offices in Austin and Plano, Texas, Atlanta, Denver, and Miami. Visit Auction.com for more information. 

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