SOURCE: John Dixon & Associates
ATLANTA, GA--(Marketwire - Aug 30, 2012) - Industrial properties in Kentucky and Oregon brought $4,026,000 in auctions conducted by John Dixon & Associates for Weyerhaeuser.
The first auction, conducted Thursday, Aug. 23, resulted in the sale of a former Timberstrand and TJI joist plant in Chavies, Ky for $1,925,000. The second, conducted Tuesday, Aug. 28 in Oregon's Dallas County, brought $2,101,000.
"It was great to see the strong response to both of these properties and to get a good outcome for the sellers. These were some of the bigger industrial properties we've sold in a while, and Weyerhaeuser is always great to work with," said John Dixon, president of the auction company.
The Kentucky property, which included 92 acres and a 500,000-square-foot industrial building formerly used as a truss manufacturing facility, sold as an entirety.
The 152-acre Oregon property -- which included a 66-acre tract, an office building, and buildings for manufacturing and storage -- attracted a standing-room-only crowd and sold to five different bidders.
"There are a lot of industrial facilities that are currently idle or under-utilized as a result of industry transitions and the fluctuating economy, and as we saw in the past few days, an auction is an effective way for companies to get these properties off the books and raise cash. I'm hoping we'll see more like this in the near future," said Dixon.
Individuals seeking additional information may visit www.johndixon.com or call 770-425-1141.
John Dixon & Associates, based in Atlanta, Ga., is a leading auctioneer of commercial, residential and bank-owned properties throughout the United States. More auction information.