IRVINE, Calif. – September 9, 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.