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$148 Million in Commercial Real Estate Closed in April 2014

IRVINE, Calif. – May 27, 2014 – Auction.com, LLC, the nation’s leading online real estate marketplace, facilitated the closing of 48 commercial assets during the month of April. The assets had a combined total sales price of more than $148 million. Notable closings include:

• Overland Park Trade Center, a 651,648-square-foot office property located in Overland Park, Kansas, was auctioned on Feb. 12. The sale closed on April 17.

• The Hayden, a 5-unit, 9,624-square-foot luxury apartment building located on Manhattan’s Upper West Side in New York, was auctioned on Feb. 27. The sale closed on April 14. 

• InnPlace Hotel, a 289-room hotel located in Charleston, South Carolina, was auctioned on Feb. 12. The sale closed on April 15. 

• Ridge Point Crossing and Ridge Point West, two multi-family properties totaling 388 units located in St. Louis, Missouri, were auctioned on March 26. The sale closed on April 25. 

• Delray Square, an 113,175-square-foot grocery-anchored retail center located in Delray Beach, Florida, was auctioned on Feb. 12. The sale closed on April 16.

• One South King, an 83,906-square-foot office building located in Honolulu, Hawaii, was auctioned on Feb. 12. The sale closed on April 21. 

• Morris Business Campus, three office buildings totaling 329,850 square fet located in Morris Plains, New Jersey, was auctioned on Feb. 26. The sale closed on April 4.

Brokers who participated in April commercial real estate transactions include Ariel Property Advisors, Cassidy Turley, Colliers International, and Hospitality Real Estate Counselors. Auction.com works in collaboration with brokers to ensure each auction participant has a satisfying experience as well as each broker retains their negotiated fees as part of their listing agreements.

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.

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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