Online real estate marketplace Auction.com says it has seen a recent increase in the volume of its commercial sales – which is in line with improvement in all major sectors of commercial real estate in terms of overall transaction volume.
During the month of July, Auction.com says it facilitated the closing of 79 commercial assets with a combined sales value of more than $262 million.
"As the commercial real estate market continues to experience healthy growth across all sectors, we're seeing transaction volume trend upwards," says Rick Sharga, executive vice president. "We're also noticing an increase in sales prices within the market as investors continue to take advantage of the current low-interest-rate environment to grow their property portfolios."
Auction.com's notable closings in July include the following: Schirm Farm Apartments, a 264-unit multifamily property in Canal Winchester, Ohio; Roseville Corporate Center, a 231,685-square-foot office property in Roseville, Minn.; Radisson Hotel Branson in Branson, Mo.; Renaissance West Retail Center in Las Vegas; and Canton Road Distribution Center, a 140,800-square-foot industrial in Marietta, Ga.
Auction.com's online platform, the company says, offers complete transparency to the large pool of bidders from around the world. In turn, the competition among qualified buyers ensures that sellers' assets are transacted at fair market value. Auction.com also enables buyers and sellers to conduct transactions in a more efficient manner than previously possible by leveraging online technology to streamline the process.