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 »
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 »
Ever think of trading in your city digs for life in the country? Many metropolitanites dream of foregoing the bright lights and late nights of the urban scene to be surrounded by more peaceful climbs with rolling hills and green pastures. This week we’re taking a look at idyllic farms that fulfill the requirements of the country relocation dream.
Check out Kaufman Realty & Auction’s 97-acre valley and ridge farm located in Dundee, Ohio. Boasting a country home and barn adjacent to a small stocked pond, stream and quiet meadow on a beautifully manicured property, this offering is the picture of serenity nestled in the vast wooded oasis of Eastern Holmes County. PA is picking this one for its stretch of wooded acreage, providing ample potential for future homesites. Auction date is December 15th. 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 »
Prime commercial real estate is often being sought by various business owners, entrepreneurs and property investors. They need to look no further than the auction block, which is continually showcasing lucrative real estate opportunities for those in the market for commercial space. This week we’re looking at some advantageous options in the commercial arena.
Check out Tranzon’s multi-use commercial property in Contoocook, New Hampshire. PA digs this one for its endless possibilities, boasting 19,700sf on 10.16 acres, a covered loading dock with 4 truck-height bays in the warehouse and an enclosed storage yard with chain-link fencing. Space is abundant with this commercial building, offering 26’ ceilings in the warehouse and 12’-13’ ceilings in the service areas. Auction date is November 6th. Read the rest of this entry »
For business owners in search of some new digs or investors looking to rent an income-producing commercial space, you’ll want to take a look at these prime office buildings hitting the auction block this month.
Check out Tranzon’s 1,350sf renovated office building in Greenville, South Carolina. This property comes fully loaded with 3 full offices, a large reception area and conference room, full bathroom with ceramic tile and onsite parking. PA is picking this one for its income potential, offering ample space in turnkey condition for would-be owners and investors. Bidding opens October 14th and closes October 16th. Read the rest of this entry »