IRVINE AND SILICON VALLEY, Calif. – March 2, 2016 – Ten-X (formerly Auction.com), the nation’s leading online real estate marketplace, will offer College Suites Cortland in Cortland, New York, for sale in an online event March 7-9. The student housing property consists of two, four-story buildings with 92 units containing a total of 361 beds. Sutton Real Estate Co., is teaming with Ten-X as the exclusive advisor and agent for the asset.
College Suites Cortland is located at 951 State Route 13, just minutes from two college campuses. The classrooms and athletic facilities at State University of New York College at Cortland (SUNY-UC) are less than 2 miles from the property and Tompkins Cortland Community College is 7 miles away. The property provides free shuttle services to both campuses and is also within walking distance of several national retailers. It is currently 78-percent leased and serves an overall student enrollment population of more than 12,500 between SUNY UC Cortland and Tompkins Cortland Community College. Cortland is a Syracuse, New York suburb.
“Ten-X is a proven sales platform that real estate investors and brokers trust when it comes to finding high-quality assets such as College Suites Cortland,” said Ten-X Commercial Real Estate Division General Manager Gordon Smith. “This asset — initially offered to the market at a substantial discount to replacement cost — draws from a steady supply of local student tenants. And with new management recently put in place, a buyer can find significant upside through stabilization of the property management. This asset has very promising upside as the kind of top-rate living quarters that today’s college students demand.”
The property was built in 2008 and every unit has a fully-furnished, fully-equipped kitchen. Amenities include a common area with patio seating, gaming/media room with 63-inch television, laundry facilities, fitness center, basketball court, 24-hour study room, business center and high-speed Internet access. Each suite also has cable television, Wi-Fi access, heat and air conditioning included in monthly rent.
Ten-X (formerly Auction.com) is the nation’s leading online real estate marketplace, having sold 200,000+ residential and commercial properties totaling more than $37 billion since 2007. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions entirely online. The company brings a breadth of quality assets to the market, attracting prospective buyers through world-class marketing and leveraging a scalable technology platform to conduct transactions in a transparent, efficient manner.
Ten-X empowers consumers, investors and real estate brokers around the world with unprecedented levels of flexibility, control and simplicity – and the convenience of transacting properties whenever and from wherever they are. As real estate continues to move online, Ten-X is uniquely positioned to be at the forefront of this dramatic behavioral shift.
Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.