Archive for January, 2013

PA Picks – Commercial and Then Some…

January 22nd, 2013 by melissa

Business owners and entrepreneurs often seek office space that is multi-functional. Whether they need warehouse storage or a residential option for when they work those overnights, finding commercial property that can serve various purposes is always a plus for owners and investors. This week, we’re looking at some prime multi-use commercial real estate auctions of properties that can wear many hats.

Check out Auction Advisors’ Bronx, New York property that’s basically got it all, complete with a commercial building, garage and 2-family residential space on a large and gated (yup, GATED!) 50×100 lot with private parking. Located just a stone’s throw from Fordham University and historic Little Italy, this property has an ideal location for client traffic as well as convenient city proximity. PA is picking this one for its many lucrative potential uses including a factory, auto body shop, warehouse, storage and rental possibilities. Auction date is February 13th. Read the rest of this entry »

Spotlight On: Evan Gladstone – NRC Realty & Capital Advisors, LLC

January 8th, 2013 by melissa

Spotlight on . . .Evan Gladstone

This month we’re putting our Spotlight on Evan Gladstone of NRC Realty & Capital Advisors, LLC. With a specialty in sealed bid sales in the commercial property sector, we recently spoke with Evan on the advantages of sealed bids over other types of auctions, portfolio vs. single asset offers, as well as the current economy’s effect on commercial real estate auctions.

PA: How long have you been with NRC, and what does your position entail as Executive Managing Director?

EG: I’m the company founder. We opened our doors in 1989. I oversee our sealed data auction business, and my partner Dennis Ruben oversees our mergers and acquisitions business. Denny is based in Scottsdale, Arizona. Our corporate office is here in Chicago.

PA: Your firm deals with various commercial and industrial properties. Is there a specific type that seems to do exceptionally well at auction?

EG: We have a sub-specialty in the convenience store and gas station industry, although our business is not limited to that. We’re a large player nationally in that venue. We also have a secondary business selling franchise restaurants. One of the things that has been a common theme in our company business is selling multiple properties in the same sale. Some of our larger sales have included the sale of 600 convenience stores for a company called Swifty Serve, and 520 convenience stores for a company called Clark Retail – those were both liquidating, Chapter 11 bankruptcies. We also sold 450 stores for BP nationally. The buyers were franchisees and were buying ampm franchises. Of course in all our sealed bid activity, we sell in a ‘buy one, some, or all’ format. To give you a better scale, the Swifty Serve and Clark sales each sold to over 200 individual buyers. In the BP business, probably closer to 450 stores sold to 425 buyers.

PA: While we’re talking about convenience stores and gas station options, who would you say is your biggest audience for this type of commercial real estate? Would it be large corporations, international investors, etc.? Read the rest of this entry »

PA Picks – We’re Heading to the Slopes

January 7th, 2013 by Ori Klein

The New Year has finally arrived and winter is in full swing. With the cold weather comes visions of powdery snow banks and picturesque ski chalets. With this in mind, we’re taking a look at prime ski property auctions that provide buyers with the perfect winter getaway as well as an investment that could bring in a blizzard of a profit.

Take a look at Harv Levin Auctioneers’ 1,135sf condo in Clay Brook at Sugarbush. Located in Warren, Vermont, this spacious ski-in/ski-out exterior unit is set on the second floor and offers 2 bedrooms and 2 bathrooms. PA is picking this one for its lucrative investment potential, with luxurious amenities that are sure to lure vacationers including valet service, fitness room, year-round outdoor heated pool, hot tubs, and private owner’s lounge. Auction date is January 18th. Read the rest of this entry »

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