Brokers Embrace Innovative Solution to Sell Property in Today’s Challenging Market
Sarasota, FL, October 15, 2012 – Sperry Van Ness Commercial Advisory Group today announced that two of their Florida listings will be sold via online auction on October 23-25, 2012. This auction is part of a larger auction event hosted by the Sperry Van Ness brokerage firm (www.SVNauctionEvent.com), through which over $150 million worth of commercial real estate will be auctioned.
Sperry Van Ness Commercial Advisory Group is capitalizing on this innovative means of selling properties and predicts that we will see more properties being sold via online auction in the future. “During the recession, transaction volume was so low that there aren’t enough comparable sales to rely upon,” said Michael Gallatin with Sperry Van Ness, “so the auction creates a platform for buyers and sellers to ‘agree’ on what the price should be in today’s market. The seller sets a low starting bid, and buyers compete against each other to set the new market-price for the asset.”
The Sarasota airplane hangar is a 20,000 +/- square foot facility located at 8080 15th Street East in Sarasota at SRQ and was previously listed for sale at $2,750,000. The Alachua County multifamily land is a 24 +/- acre parcel in Gainesville for up to 576 apartments or student housing units and was previously listed at $5.9 Million.
Regarding the auction event, Kevin Maggiacomo, CEO of Sperry Van Ness International said, “This National Online Real Estate and Loan Auction Event is creating a tremendous opportunity for investors, real estate brokers and other industry professionals to participate and purchase high quality institutional grade assets located from coast to coast. Over 100 assets and portfolios exceeding $150 Million in value will be auctioned during our 3 day event in October. Opening bids from $1.00 to $26,000,000 will allow investors of all sizes to purchase all commercial property types at very attractive prices. This event is unique to Sperry Van Ness and brokers across the country have seized the opportunity to offer both their listing clients and investors an exciting way to buy and sell commercial properties.”