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Auction.com Closes Eight Commercial Sales with a Total Purchase Price of $82.7 Million

IRVINE, Calif. – December 17, 2013 – Auction.com, LLC, the nation’s leading online real estate marketplace, facilitated the closing of eight commercial assets in seven states from Nov. 20 – Dec. 9. The assets had a combined total sales price of more than $82.7 million.

“This is another sign of steady growth in our sales volume at a time when the market is exhibiting strong signs of recovery,” said Eric Paulsen, executive vice president, general manager, Commercial Division, Auction.com. “These results further underscore the effectiveness of the Auction.com platform for selling both distressed and non-distressed commercial assets.”

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.

Notable closings include:

  • Pine Ridge Mall, a 526,801-square-foot retail center located in Chubbuck, Idaho, was listed by Rockwood Real Estate Advisors and auctioned on Nov. 7. The sale closed on Dec. 9.

  • A 291,713-square-foot office building located at 35 Nutmeg Drive in Trumbull, CT was listed by Marcus and Millichap and auctioned on Nov. 7. The sale closed on Dec. 9.

  • A 32,049-square-foot mixed-use building located at 246 Fifth Avenue in New York was listed by NGKF Capital Markets and auctioned on July 24. The sale closed on Dec. 4.

  • Princeton Square Apartments, a 288-unit complex located in Jacksonville, Fla., was listed by HFF L.P. and auctioned on Sept. 25. The sale closed on Dec.4.

  • The Hampton Inn Okeechobee, an 85-key hotel located in Okeechobee, Fla., was listed by Rockwood Real Estate Advisors and auctioned on Sept. 26. The sale closed on Dec. 4.

  • The Holiday Inn Express & Suites Birmingham, a 96-key hotel located in Birmingham, Ala., was listed by Rockwood Real Estate Advisors and auctioned on Sept. 25. The sale closed on Dec. 4.

  • The Stretford at the Cascades, a 61-unit apartment complex located in Tyler, Texas, was listed by Rockwood Real Estate Advisors and auctioned on Nov. 21. The sale closed on Dec. 3.

  • Estancia Apartment Homes, a 152-unit complex located in Ontario, Calif., was listed by Rockwood Real Estate Advisors and sold via a custom auction on Oct. 10. The sale closed on Nov. 20.

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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