In changing market, commercial broker uses auction company to produce results for their clients
14 Oct, 2022 - Tranzon Auction Properties
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Teaming up five times this summer and fall, The Fletcher Group at Keller Williams Realty and Tranzon Auction Properties closed on over $2.875MM of commercial assets for their clients.
“I’ve personally bought and sold properties at auction. It’s a strategic tool in our arsenal if a property hasn’t moved or attracted the right attention, I will strategize with Tranzon about whether it’s a good fit for their sale process. At times, it’s a better than slashing pricing or taking a low-ball offer from an investor.” Says Kevin Fletcher, CCIM of The Fletcher Group.
Recently Tranzon and The Fletcher Grouped have teamed up to sell a 195+/- acre commercial/agricultural property in Mechanic Falls, a 75,600+/- sf industrial property and 10,000+/- office building in Lewiston and two parcels of land in Auburn.
“Having worked with Kevin on many occasions in the past he knows when we’re a good fit. We typically team up for a joint call with his clients and talk through how Tranzon’s sale process could help get additional exposure and produce competitive bidding.” Says Mike Carey, Senior Vice President-Sale for Tranzon Auction Properties.
In each instance Tranzon and The Fletcher Group worked together to produce detailed property information packages for each property, marketed the properties for 4 week and then had online bidding events.
“None of these clients were in financial distress, however they all had specific reasons to consider this approach an different rationales to move the properties in a timely manner. Plus, they had concerns about the current economic climate. Converting these assets into cash allows them each to accomplish their specific goals. Each client and each property is unique and the Auction process can be a very useful tool when the conditions are right.” Said Kevin.
The properties included:
125 Pigeon Hill Road Mechanic Falls, ME: 195+/- Acre Commercial Property – Sold for $929,250
21 Fireslate Place Lewiston, ME: 75,600+/- sf Industrial Property – Sold for $1,294,650
75 Park Street Lewiston, ME: 10,00+/- sf Iconic Office Property – Sold for $525,000
268 Cascades Drive Auburn, ME: 20+/- Acre Land Parcel – Sold for $58,850
Kittyhawk Avenue Auburn, ME: 3.4+/- Acre Land Parcel - Sold for $68,200
Tranzon Auction Properties is a member company of Tranzon, LLC. Tranzon is one of the largest real estate auction companies in the country, with 30 offices coast-to-coast. Tranzon’s accomplished auction professionals are widely recognized as leaders in the auction industry. All Tranzon companies are independently owned and operated.