IRVINE AND SILICON VALLEY, Calif. – Dec. 14, 2015 – Auction.com, LLC, the nation’s leading online real estate marketplace, reported closings on 66 commercial assets sold during the month of October. The assets had a combined sales price of $315 million, topping Auction.com’s October 2014 total sales of $281 million. Properties from five CRE sectors — office, retail, apartment, industrial and hotel — performed well on the Auction.com platform.
“October was another strong month for CRE sales on the Auction.com platform, with robust sales in every industry sector," said Gordon Smith, general manager of Auction.com’s commercial real estate division. "As year-over-year price growth and sales volume remain strong in the CRE market, more brokers and building owners are choosing to work with us to expose their high quality assets to the broadest possible universe of potential buyers."
Notable closings from October include:
- Deer Valley Office Portfolio, a 66-percent-occupied collection of office properties comprising 252,300 square feet located in Phoenix, Arizona sold for $27.45 million. The sale closed Oct. 19.
- Seven Mile Crossing, a 71-percent-occupied, three building office complex totaling 347,000 square feet, located in Livonia, Michigan, auctioned for $16.8 million. The sale closed Oct. 7.
- A fully occupied, 25-unit multi-family property located in New York was auctioned for $15.17 million. The sale closed Oct. 26.
- Forever 21 at Antelope Valley Mall, a fully occupied, 76,500-square-foot, retail building located in Palmdale, California, sold for $7.82 million. The sale closed Oct. 21.
- Sunpointe Place, a 69-percent occupied, 140-unit multi-family property located in Largo, Florida, was auctioned for $6.4 million. The sale closed Oct. 15.
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. It 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 call 844-694-4976.
Auction.com, LLC, is the nation’s leading online real estate marketplace. Founded in 2007, the company has sold more than $34 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 key markets nationwide. Visit www.auction.com for more information.