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Monthly Commercial Real Estate Roundup (February)

IRVINE, Calif. – March 24, 2014 – Auction.com, LLC, the nation’s leading online real estate marketplace, facilitated the closing of 38 commercial assets during the month of February. The assets had a combined total sales price of more than $147 million.

“As the national economy gains momentum, each real estate sector is experiencing recovery at a different rate,” said Eric Paulsen, executive vice president, general manager, Commercial Division, Auction.com. “We pride ourselves on providing both buyers and sellers access to analysis of the properties and each market, allowing them to make informed investment decisions.”

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. Notable closings include:

• The Fairfield Lakes Apartments, a 277,756-square-foot multifamily complex located in Pensacola, Fla., was listed by Marcus & Millichap and auctioned on Dec. 11. The sale closed on Feb. 14.

• The Somersville Towne Center, a 283,284-square-foot retail center located in Antioch, Calif., was listed by Palmer Capital, Inc. and auctioned on Nov. 21. The sale closed on Feb. 14.

• The University Place Apartments, a 120,400-square-foot multifamily complex located in Rock Hill, S.C., was listed by Marcus & Millichap and auctioned on Dec. 11. The sale closed on Feb. 11.

• The Princeton Park Corporate Center, a 178,138-square-foot office complex located in Monmouth Junction, N.J., was listed by Cushman & Wakefield and auctioned on Dec. 11. The sale closed on Feb. 12.

• The Ponce Towers, a 38,842-square-foot retail and office building located in Coral Gables, Fla., was listed by Auction.com and auctioned on Nov. 20. The sale closed on Feb. 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.

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