Accelerated Marketing Program Attracts Property Owners, Financial Institutions in 20 States Across the U.S.
Monthly Sales Events Feature Internet Auctions, Sealed Bids to Help Sellers Achieve Optimum Value
More than 50 properties valued in excess of $150 million will be featured in the first round of the Commercial Property PowerSale™, NAI Global’s ongoing series of national, multi-seller auction and sealed-bid sales.
NAI Global, in cooperation with its longtime alliance partner Higgenbotham Auctioneers International, created The Commercial Property PowerSale™ as part of an Accelerated Marketing Program to help property owners optimize the value of their property in today’s extremely difficult selling environment.
“This first event has generated significant interest across the U.S., and is being embraced by motivated sellers who are frustrated by gridlock in the traditional sales channels,” said Jeffrey M. Finn, NAI Global President & CEO. “We’re excited about this program’s potential to bring together buyers and sellers to create a market where one doesn’t currently exist.”
NAI Global expects to move over $1 billion in premier investment properties, financially distressed real estate and real estate loans by the end of the year, through online auctions sealed bids and a unique combination of the two formats, Finn noted.
This unique program gives clients the opportunity to sell their assets quickly, reducing their holding costs and securing true market value for the properties. Sellers in the Commercial Property PowerSale™ benefit from the tremendous marketing leverage created by aggregating properties from multiple sellers into a series of nationally marketed events.
The first Commercial Property PowerSale™ will take place online on May 1, 2009. Interested buyers will have an opportunity to bid on properties in 20 states, including New York, Washington, California, Texas, Florida and Maryland. The properties range from development-ready land tracts to investment-grade office, retail and multi-family properties. The full list of properties and detailed bidder information is available to the public on www.naiglobal.com/powersale. Interested buyers have the option of participating by submitting a sealed-bid or bidding live during the online auction, depending on the specific property.
“This is just the first phase of the Commercial Property PowerSale™,” said Finn. “We expect momentum to grow with each subsequent event.”
The second Commercial Property PowerSale™ is scheduled for June 11, with a property submission deadline of April 13. Future events are expected to be held on a monthly basis and will also feature the sale of performing and non-performing loans, providing another solution for banks and financial institutions.
Prospective buyers and sellers interested in learning more about the Commercial Property PowerSale™ should visit www.naiglobal.com/powersale.
NAI Austin is one of Austin’s most experienced commercial real estate firms and the Austin area representative for NAI GlobalTM, the industry’s largest global network of real estate service-providers, comprising 5,000 brokers in 325 offices serving more than 55 countries worldwide. For more information on NAI Austin, please visit www.naiaustin.com.
NAI Austin’s Retail Specialist Sherry Sanchez continues to represent Jimmy John’s Gourmet Sandwiches, this time in a lease of 1,400 square feet in East Austin. The new location will be the first on the east side of IH-35, at 1200 Barbara Jordan Blvd., between Airport Blvd. and 51st Street in the Mueller Airport redevelopment.
Jimmy John’s fresh ingredients and great employees, along with their subculture, make this restaurant unique. Its golden rule is “make a deal, keep a deal,” signifying its consistency in providing great service and food.
NAI Austin’s Land and Commercial Building Specialist Dean Janeff represented Many Blessings, LLC in its purchase of 3.13 acres of land on Boulder Lane just west of RR 620 in Northwest Austin. Many Blessings, LLC plans to build a 10,000 square foot daycare center, Tutor Time.
Tutor Time provides educational programs during the school year and summer for children, six weeks old to 12 years old. It has over 300 locations in the U.S., Hong Kong, Indonesia, Portugal and the Philippines. The company was started in 1988, and this will be its second location in Austin.
Dean Janeff represented Bright Horizons Children’s Centers, Inc, in the sale of their 10,536 square foot daycare center to the Texas Empowerment Academy in East Austin. The facility is located at 3613 Bluestein Drive, west of U.S. Hwy. 183 South (Ed Bluestein Boulevard).
The Texas Empowerment Academy is a charter school that was started in 1998. It offers small classes for a personal education experience for students, fifth to ninth grades. Tuition is free, and the school has been awarded the Governor’s Educator’s Excellence Award.
NAI Austin’s Retail Specialist Ryan Coleman and Land and Commercial Specialist Dean Janeff leased 4,610 square feet of free-standing restaurant space to Dimassi’s Mediterranean Buffet. The restaurant is located at 4301 West William Cannon in the Costco-anchored Arbor Trails Shopping Center in Southwest Austin.
Dimassi’s Mediterranean Buffet is a Texas-based chain, with this being its eighth location. Their menu is varied, including appetizers like Baba Ghanouge and entrees like kabobs and even dessert. They serve all of their dishes with fresh pita bread. They also cater to surrounding areas.
Jimmy John’s, the nationwide sandwich shop chain, was represented by NAI Austin’s Retail Specialists Sherry Sanchez and Travis Waldrop in leasing 1,300 square feet in the Central Park Shopping Center. Located at 4100 North Lamar, this Jimmy John’s will be in good company with H.E.B.’s Central Market and other Austin-based tenants located in the popular shopping center.
Jimmy John’s was started in 1983 and currently has over 682 locations in 35 states, eight of which are in Austin. It offers made-to-order sandwiches, fresh soups and Jimmy John’s brand chips for both in-store dining and delivery.
Little Caesar’s Pizza, voted the best value pizza in America, is adding a location in Round Rock at 2051 Gattis School Road, with the landlord represented by NAI Austin’s Retail Specialists Sherry Sanchez and Ryan Coleman. Located in Round Rock Town Center, Suite 640, the 1,400 square foot space will be perfect for making and serving plenty of pizza and Crazy Bread.
Little Caesar’s Enterprises, Inc. is the world’s largest carry-out pizza chain, and it has built more units in the U.S. than any other pizza chain for the past seven years. It plans to continue expanding both in the U.S. and internationally. This is Round Rock’s second Little Caesar’s Pizza location.
NAI Austin’s Retail Specialists Leo Morales and Sherry Sanchez have another tenant signed up at the Lakeway Town Center Phase II. Luxe Salon is an upscale salon that will have the feel of downtown without the drive. Located at 2121 Lohmans Crossing Road, the 1,450 square feet suite will offer hair and skin services to both men and women.
Phase II of Lakeway Town Center is still leasing space to tenants. The center is ideal for retailers and restaurants and has various sized suites to choose from. Leasing in the Town Center is a chance to bring more of Austin out to Lakeway. For more information, contact Leo Morales or Sherry Sanchez.
The business communication solution company NexxLinx is expanding its services to Austin. Represented by NAI Office Specialists Lise Wineland and Josie Marshman, the President and CEO of NexxLinx Craig Mento leased 30,380 square feet of space in Suite 110 of the Northview Business Center at 9100 IH-35 South. This is its first location in Texas, and will create local jobs as well as provide a great quality of life for its current employees transferring to Austin.
NexxLinx was started in 1999 in Atlanta and allows companies to work more efficiently by using their own technology systems and software. Its partners include Kelly Services, Inc., IBM and PRC, and it serves companies such as Bank of America, Wachovia, Time Warner and Verizon.
ACE Cash Express, the largest check cashing store in the U.S., with over 1,718 company-owned or franchised stores, represented by NAI Austin retail specialists Ryan Coleman and Leo Morales, has signed a lease for 1,600 square-feet of retail space in the Century South Plaza shopping center, located at 801 W. William Cannon. This new location is ACE Cash Express’ southern-most expansion so far in the Austin MSA.
ACE Cash Express, a member of Financial Service Centers of America (FISCA), provides financial services including check cashing, bill pay and short-term consumer loans; and it has over 38 million customers.
