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Mar. 24, 2014

Auction.com Closes $147 Million in CRE Assets

Irvine, Calif.— Auction.com, an online real estate marketplace, facilitated the closing of 38 commercial assets during the month of February.  The assets had a combined total sales price of more than $147 million.

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:

  • The Fairfield Lakes Apartments, a 277,756-square-foot multifamily complex located in Pensacola, Fla., was listed by Marcus & Millichap and auctioned on Dec. 11. The sale closed on Feb. 14.
  • The Somersville Towne Center, a 283,284-square-foot retail center located in Antioch, Calif., was listed by Palmer Capital, Inc. and auctioned on Nov. 21. The sale closed on Feb. 14.
  • The University Place Apartments, a 120,400-square-foot multifamily complex located in Rock Hill, S.C., was listed by Marcus & Millichap and auctioned on Dec. 11. The sale closed on Feb. 11.
  • The Princeton Park Corporate Center, a 178,138-square-foot office complex located in Monmouth Junction, N.J., was listed by Cushman & Wakefield and auctioned on Dec. 11. The sale closed on Feb. 12.
  • The Ponce Towers, a 38,842-square-foot retail and office building located in Coral Gables, Fla., was listed by Auction.com and auctioned on Nov. 20. The sale closed on Feb. 18.
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