Tranzon beats all expectations with sale of CBD processing plant
30 Aug, 2021 - Tranzon Asset Advisors
READ FULL STORY HERE
On August 10, Tranzon Asset Advisors sold an 86,500-sf CBD processing facility in Cadiz, Kentucky appraised at $1.6 million for a high bid of $2.1 million -- far exceeding expectations for the sale. Tranzon Asset Advisors was partnered with Tiger Commercial & Industrial, who sold the non-real estate assets. Tiger's director of business development, Jonathan Holiday, commented, "When we took a step back and looked at the numbers on the sale of this equipment and real estate, we found that the proceeds exceeded our estimates by 45 percent."
A total of 157 bids were placed on the industrial real estate in a very competitive online auction. Jordan Conlee, Executive Vice President of Tranzon Auction Advisors, said that it was a winning situation for everyone. "With the solid group of bidders who saw the upward trend in demand for industrial real estate, the winning bidder got an exceptional buy."