Archive for the ‘Spotlight On…’ Category
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 »
Spotlight on . . .Laura Brady
With luxury property auctions still seeing major numbers in both attendance and profits, we wanted to delve further into what’s driving this area of the real estate market. This month we spoke to Laura Brady, President of Concierge Auctions, discussing several topics including marketing strategies, geographical popularity and the use of social media in the industry.
PA: Tell us about Concierge Auctions and your role with the company.
LB: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties — typically valued between $2.5 million and $20 million — in a 60-day timeframe. The company has executed auctions in 23 states, from New York to Hawaii, and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories. The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years. [For more information, call 888-966-4759 or visit ConciergeAuctions.com.]
As the President of Concierge Auctions, I am responsible for overseeing the company’s corporate initiatives and brand growth. My strategic vision for the firm focuses on three fundamental deliverables: white-glove service worthy of the most discerning clientele; a brand that radiates luxury and is forever strengthened by the quality assets it represents; and the latest technologies and innovations to enhance the company proficiency and customize the client experience.
PA: What are your thoughts on the rise of luxury properties being sold via auction? Read the rest of this entry »
Spotlight on . . .Craig King
This month we had the pleasure of speaking to Craig King, President of J.P. King Auction Company. A renowned industry leader dealing exclusively with high-end luxury properties nationwide, J.P. King has a stellar success rate of sales utilizing the latest media technology, integrated marketing strategies, and focused attention on the client and their asset. We discussed a variety of topics with Craig including absolute auctions, the use of social media, and the future of luxury properties being sold via the auction route.
PA: J.P. King is regarded as a leader in Luxury Real Estate Auctions. Tell us about how the company earned this place at the top.
CK: J. P. King began selling luxury properties in 1992 with the successful auction of Calumet Horse Farms in Kentucky for $19 million. From there, we were called to south Texas to sell an estate on 3,000 acres, which sold for $8 million, and the rest is history. We have now sold properties in all 50 states and six countries for celebrities such as Barbara Mandrell, former Atlanta Braves pitcher Mike Hampton, Karl Malone and top business leaders. We have sold properties to several of the Forbes list of the wealthiest Americans, including Donald Trump. On our current schedule, we’ll be auctioning the home of country music legend George Jones on July 7th. Read the rest of this entry »
Spotlight On . . .Max Spann, Jr.
This month’s Spotlight On profiles Max Spann, Jr. of Max Spann Real Estate & Auction Company. A renowned presence in the industry for decades, this company deals with all types of real estate nationwide with a focus on the Northeast sector. We spoke to Max Jr. on a variety of topics including online sales, determining marketing budgets and the current market landscape.
PA: How would you describe your organization?
MS: We’ve been in business for over 50 years. My father started it way back when, and we have locations in Manhattan and Northern New Jersey. We basically operate along the entire East Coast, although we have national affiliations to do work across the country as well. We are exclusively oriented towards real estate, and we’re interdisciplinary from the standpoint that we handle every type of real estate including industrial, office, retail, residential, land and development rights. We’ve worked with a diversity of sellers, both private, public, and institutional. We’re considered one of the top auction firms in the nation, and have grown exponentially over the past 10 years. We love this industry and are big promoters of it. We have a staff of some 40 people, and they come from all different, varied backgrounds, which is great for what we offer clients. We have attorneys, bankers, agricultural specialists and former builders. We have a vast variety of disciplines which we all can bring to bear on different projects and different assignments. Read the rest of this entry »
Spotlight on . . .Richard Warner
Spotlight on . . .David E. Gilmore
This month we’re putting our Spotlight on David E. Gilmore, national auctioneer, managing director and Chief Operations Officer for Sperry Van Ness Accelerated Marketing Company/Gilmore Auction & Realty Company. With over 25 years of experience in the industry, David’s background covers all facets of real estate. We recently spoke to David on several topics including the current market, bank-owned properties, and online auctions.
PA: Describe your company and your affiliation with Sperry Van Ness (specialties, longevity, experience, etc.).
DG: I started Gilmore Auction & Realty just after graduating from college in 1983 here in New Orleans just when the 80′s downturn had started. My first auction was a single condo and no one showed up, which was devastating but I managed to recover. Later, our firm put together large multi-property, multi-seller auctions of REO properties for several years, then sold for the RTC and FDIC. While we have sold almost everything except livestock in the beginning years, for the last 15-20 years it has only been real estate: homes, lots, acreage, office, apartments, industrial, retail, etc. Read the rest of this entry »