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Monthly Commercial Real Estate Roundup (March)

IRVINE, Calif. – April 17, 2014 – Auction.com, LLC, the nation’s leading online real estate marketplace, facilitated the closing of 57 commercial assets during the month of March. The assets had a combined total sales price of more than $190 million.

“With sale prices continuing on an upward trajectory, performance across all sectors remain healthy with multifamily and Class A retail leading the way,” said Eric Paulsen, executive vice president, general manager, Commercial Division, Auction.com. “The Auction.com platform remains a major player in this sector yielding above-market sales in these categories.”

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:

• Dolphins Landing, a 196,016-square-foot multifamily complex located in Corpus Christi, Texas, was listed by CBRE and auctioned on Oct. 9. The sale closed on March 14.

• The Erindale Center, a 187,880-square-foot retail center located in Colorado Springs, Colo., was listed by Rockwood Real Estate Advisors and auctioned on Dec. 11. The sale closed on March 12.

• Pompano Merchandise Mart, an 118,172-square-foot retail center located in Pompano Beach, Fla., was listed by Auction.com and auctioned on Feb. 26. The sale closed on March 28.

• The Shops at Simi Valley Target Center, a 22,812-square-foot retail center located in Simi Valley, Calif., was listed by Cassidy Turley and auctioned on Jan. 30. The sale closed on March 3.

• The Sono Corporate Center, an 185,581-square-foot office complex located in Norwalk, Conn., was listed by Rockwood Real Estate Advisors and auctioned on Jan. 30. The sale closed on March 5.

• Spanish Cove Townhomes, a 669,795-square-foot multifamily complex located in St. Louis, Miss., was listed by Marcus & Millichap and auctioned on Dec. 11. The sale closed on March 21.

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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