Corporations Move Quickly to Shed AssetsApril 5th, 2008 by PA - Bloger
The most efficient way for large scale corporations to sell real estate assets today is certainly through a real estate auction. We all know real estate brokers are struggling right now with an overload of property sitting in their inventory. These properties are taking months and sometimes years to move. While the corporations are waiting around for something to happen they are paying dearly for it. Holding costs and maintenance costs during a listing period followed by a prolonged negotiation that may or may not result in a sale can run a corporate owned property right into the red.
Seems like one such corporation has elected to have their properties sold at auction. Tranzon Asset Advisors out of Kentucky is representing the auction sale of two large scale corporately owned facilities on April 15th. One of the properties boasts over $1M of NNN income. This actually presents a rare opportunity for a buyer as most corporate properties that we've seen are usually vacant.
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