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Auction.com Facilitates the Closing of Nearly $192 Million in Commercial Assets in May

IRVINE, Calif. – July 15, 2015 – Auction.com, LLC, the nation’s leading online real estate marketplace, reported closings on 65 commercial assets during the month of May. The assets had a total combined sales price of $192 million.

“With the commercial real estate market in full recovery, both sales prices and sales volume are steadily increasing across all industry sectors,” said Rick Sharga, executive vice president of Auction.com. “We continue to see a wide range of investors looking for commercial assets on our platform – individual investors, small investor groups and major institutional players. And because of the global reach of our marketing, we’re continuing to see strong interest from international buyers as well.”

In recent months, Auction.com has partnered with global organizations like Juwai.com and AREAA Global, a subsidiary of the Asian Real Estate Association of America (AREAA), to expand commercial real estate opportunities for Asian investors and connect them with native-speaking brokers and agents who are trained to execute transactions on the Auction.com platform.

Notable closings from May include the following:

  • Visalia Pavilion, a 73 percent occupied, 33,000-square-foot retail property located in Visalia, California, was auctioned on April 16. The sale closed on May 5.
     
  • Northeast Business Park, a 93 percent occupied, 116,000-square-foot industrial property located in North Richland Hills, Texas, was auctioned on April 16. The sale closed on May 19.
     
  • DeLaCruz Professional Centre, a fully occupied, 31,000-square-foot retail center located in Lehigh Acres, Florida, was auctioned on March 25. The sale closed on May 1.
     
  • Fox Hollow, a 77 percent occupied, 42,000-square-foot office flex building located in Branchburg, New Jersey, was auctioned on March 4. The sale closed on May 21.
     
  • Alvarado Place Apartments, an 83 percent occupied, 100-unit apartment community located in Colorado Springs, Colorado, was auctioned on March 25. The sale closed on May 7.
     

The Auction.com 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 enables buyers and sellers to conduct transactions in the most efficient manner possible by leveraging internet technology to streamline a cumbersome, complicated and paperwork-intense process. Auction.com’s CRE Finance Portal offers new financing options, providing users with additional flexibility needed when looking for properties and opening the door for a larger audience to participate in commercial real estate auctions.

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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About Auction.com:  

Auction.com, LLC, is the nation’s leading online real estate marketplace. Founded in 2007, the company has sold over $30 billion in residential and commercial real estate assets. Auction.com has over 900 employees and headquarters in Irvine and Silicon Valley, California as well as offices in Austin and Plano, Texas, Atlanta, Denver, New York and Miami. Visit www.auction.com for more information.

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