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.
Discount Electronics, a retailer of refurbished computers and computer accessories, recently purchased the former Hollywood Video building at 9711 Manchaca Road in Austin, Texas. Dean Janeff, a commercial building specialist with NAI Austin, represented the seller, Realty Income. The 7,534 square foot space will allow Discount Electronics to serve clients in south Austin.
Discount Electronics specializes in Dell parts, computers and accessories. Founded in 1997, the company has since grown exponentially. In 2007 and again in 2008 the company was recognized by Inc. Magazine as one of the fastest growing companies in the United States. The Austin Business Journal honored Discount Electronics with the distinction of being the twelfth-fastest growing private company in Austin. The new store continues their expansion.
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.
Omsai Joint Venture, LLC has purchased 3.75 acres on Metric Lane, just north of Parmer Lane, from Catoosa Springs Partners, LP. The site is adjacent to Westview Middle School and Parmer Lane Elementary. NAI Austin’s Josh Hubka, a Land Specialist and CCIM Candidate, represented the buyer, who plans to build a 10,000 square foot Montessori School with an enrollment of 160 children, ages 2-5. This will be the first Montessori School in Austin for Ashok Someshwar, the buyer, who currently has two schools in Plano. He plans to sell the excess land to a medical office developer.
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 industrial specialist Jerry Heare along with Oxford Commercial brokers Rick Whiteley and Jeff Coddington represented Texas Electric Cooperatives (TEC) in locating and purchasing their new Austin headquarters location. The 7,700 sf office condo is located at 1122 Colorado Street, on the 24th floor of the Westgate Tower. The suite was purchased from Kidd, Whitehurst & Harkness General Partnership.
TEC represents cooperative electric utilities across Texas as well as offering repair and remanufacturing services, waste disposal and environmental consulting. They operate the only cooperatively owned utility pole production facility in the nation. The new, centrally-located downtown office will complement the existing 160,000 sf facility in Georgetown and the 50-acre manufacturing operation in Jasper.
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.
Sunstate Equipment Co. has purchased an 11-acre industrial property on IH-35 in Buda from Carlstead Trucking. NAI Austin Industrial specialists Jerry Heare and Mark Milstead co-brokered the transaction with Jones Lang Lasalle.
Sunstate Equipment Co. provides rental equipment, from hand tools to large forklifts and cranes, to industrial and construction companies. It operates an existing location in north Austin on IH-35.
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 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 Senior Broker Phillip Bible and Land Specialist Meredith Sloan represented Dr. Greg Biehle in marketing and selling a prime retail site, located at the southeast corner of 35 St. and Glenview, one block west of Dr. Biehle’s popular veterinary clinic in the Brykerwood area.
This 15,512 square foot site includes a commerical building formerly known as the Gorbet Building. The new owners plan to remodel the building to house a new, Austin-original, Argentine-style restaurant.
